US PPI growth slows, core indicators growth declines

Glonghui, July 15 — A key gauge of U.S. producer price inflation unexpectedly slowed in June, indicating that the impact of Iran-related conflicts remains largely manageable. According to data released Wednesday by the U.S. Bureau of Labor Statistics, the producer price index (PPI) excluding food and energy rose 4.7% year-over-year and 0.2% month-over-month. The overall PPI climbed 5.5% year-over-year. Another report released on Wednesday showed that the New York Federal Reserve's general business conditions index for manufacturing rebounded in July, driven by increases in new orders and shipments, while employment indicators reached their highest level since December 2022. Although the price paid index eased somewhat, it remained elevated; meanwhile, business expectations for future prices paid and selling prices both declined.