US PPI rise more than expected in June

Producer prices in America rose more than analysts expected in June, one day after the release of consumer price data, which recorded levels below estimates during the same period.

According to data released today by the Bureau of Labor Statistics, producer prices rose by about 0.2% and 2.6% on a monthly and annual basis, respectively.

Producer prices in America increased by about 2.4% in May on an annual basis, and stabilized on a monthly basis.

As for consumer price data in America, yesterday it showed an increase of about 3% in June on an annual basis, compared to an increase of 3.3% in May and expectations that it would record 3.1%.

These data reinforced analysts’ expectations of a rate cut in September to 90% levels.