Companies and Brands
Tame Producer Price Inflation, But First Uptick In Months
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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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