The index for final demand increased 0.3% month-over-month in July (consensus +0.2%) following a downwardly revised 0.0% (from 0.1%) for June.
Excluding food and energy, the index for final demand was also up 0.3% month-over-month (consensus +0.2%) following a downwardly revised 0.1% decline (from +0.1%) for June.
On a year-over-year basis, the index for final demand was up 0.8%, versus 0.3% in June, and the index for final demand, excluding food and energy, was up 2.4%, unchanged from June.
The key takeaway from the report is that wholesale inflation has come down sharply from its peak in 2022, although with the recent increase in oil and gasoline prices, there will be some concern that further improvement is going to be delayed.