U.S. Producer Price Growth Surpasses Market Estimates in July

Data Protection Internet Technology concept

The producer price index for US demand rose up by 1.0% in July, matching the increase record in the previous month.

Source: U.S. Department of Labor


DXY up +0.14%, EUR USD down -0.10%

With the bigger than initially expected monthly increase, the annual growth rate in producer prices accelerated to 7.8% in July from 7.3% in June.

Nearly 75 of the July increase in producer prices can be traced to a 1.1% increase in prices for final demand services.

The US energy prices increased by 2.6% during the month, while food prices tumbled by 2.6%. Core prices were expected to show another 0.5% increase.

The prices for transportation and warehousing services rose by 2.7% in July after climbing by 0.9% in June.

Compared to the same month in 2020, consumer prices in July were 5.4% higher, unchanged from the annual growth rate recorded in June. The rate of growth was expected to decline to 5.3%.


Trade the Pin Bar Candle: Increase Your Winning Strike

Previous article

At 375,000, US Jobless Claims Declines for Third Week in a Row

Next article

You may also like


Leave a reply

Your email address will not be published.

More in News