Producer Prices rebounded MoM in May with headline Final Demand PPI rising 0.4% (against +0.1% exp) but it left PPI YoY still down 0.8%…
Source: Bloomberg
Some serious dispersion in the various sector’s price swings…
This rebound was driven by a record surge in food prices…
Source: Bloomberg
Two-thirds of the May increase in the index for final demand goods is attributable to a 40.4-percent jump in meat prices.
Source: Bloomberg
The indexes for gasoline, processed young chickens, light motor trucks, liquefied petroleum gas, and carbon steel scrap also moved higher.
Source: Bloomberg
Conversely, prices for chicken eggs fell 41.2 percent. The indexes for diesel fuel and for plastic resins and materials also decreased.
What will Jay Powell do now that average joe’s cost of living is soaring?
StevieRay Hansen
Editor, Bankster Crime
Day-Traders Send US Producer Prices Soaring In July
US Producer prices were expected to rise MoM following four declines in the last five months and they did, rising 0.6% MoM (double the expected…
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