The deep consolidation of inflationary pressures in the US was also confirmed by the measurement of the producer price index, which showed a rapid acceleration to 11.3% annually, after the beastly 9.1% shown by consumer prices yesterday.
In particular, the producer price index increased in June at a pace 1.1% compared to a month ago, compared to 0.8% which analysts expected and of 0.9% with which it had moved in May (revised upwards from 0.8% of the initial reading).
On an annual basis, however, the index moved slightly below the estimate for 11.4% with the measurement showing 11.3%from 10.9% of last month.
It is typical that last year wholesale prices increased at a rate of about 2%.
Relatively positive were indications from the structural measure of the index, which excludes volatile energy, food and retail prices, which showed growth at a pace 0.4%lower than 0.6% of May, but also of the forecasts for a smaller reduction in 0.5%.
Accordingly, year-on-year, the structural producer price index moved by +8.2%slightly higher than the estimate for 8.1%but lower than 8.3% of May.
Source: Capital
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