A key measure of U.S. producer price inflation unexpectedly slowed in June, indicating that the impact of the Iran-related conflict remains somewhat contained. According to data released by the U.S. Bureau of Labor Statistics on Wednesday, the Producer Price Index (PPI) excluding food and energy rose 4.7% year-over-year and 0.2% month-over-month. The overall PPI rose 5.5% year-over-year. Another report released on Wednesday showed that the New York Fed's general business conditions index for ma

American producer price inflation, a core indicator, unexpectedly slowed in June, suggesting that the impact of Iran-related conflicts remains largely controllable. According to data released by the U.S. Bureau of Labor Statistics on Wednesday, the Producer Price Index (PPI), excluding food and energy, rose 4.7% year-on-year and 0.2% month-on-month. The overall PPI increased by 5.5% year-on-year. Another report released Wednesday showed that the New York Federal Reserve’s General Business Conditions Index for manufacturing activity rebounded in July, driven by increases in new orders and shipments, while employment indicators rose to their highest level since December 2022. Although the prices paid index has fallen back somewhat, it remains elevated; meanwhile, expectations for future prices paid and sales prices among businesses have both declined.