Companies and Brands
Tame Producer Price Inflation, But First Uptick In Months
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Source: Jon Ogg
While this is still low in inflation, the gains were the first in four months. Food prices and truck prices contributed to those gains. The annual rate was 0.7% for producers, but the core rate on an annualized basis was up 2.6%. As a reminder, the FOMC has an inflation target of roughly 2.0%.
Food prices rose 0.5% in June. It is also worth noting that crude goods or raw materials were down by 3.6% and that implies that prices may remain muted in the coming months as long as the recent rise in drought-related prices does not get out of hand.
JON C. OGG
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