US Producer Price Inflation Continues Elevated in June PPI +1.1% m/m +11.3% y/y

US Producer price inflation for June continues elevated at a rapid pace, a long way from the Central Bank transitory mantra. US June PPI +11.3% y/y vs +10.7% expected, Prior was +10.8% y/y. June PPI month on month increased 1.1% (consensus 0.9%) versus a prior revised increase of 0.9% (from 0.8%). Core PPI, which excludes food and energy, rose 0.4% (consensus 0.5%) versus the prior revised increase of 0.6% (from 0.5%)


June 2022 PPI

The Producer Price Index for final demand increased 1.1 percent in June, seasonally adjusted, the
U.S. Bureau of Labor Statistics reported today.

US June PPI Highlights.

  • PPI +11.3% y/y vs +10.7% expected Prior was +10.8% y/y
  • PPI +1.1% m/m vs +0.8% expected
  • Ex food and energy +8.2% y/y vs +8.1% expected
  • Ex food and energy +0.4% m/m vs +0.5% expected
  • Ex food, energy and trade +6.4% y/y vs +6.8% prior

Where the price rises were:

  • Goods prices jumped 2.4%, much higher than 1.4% in May, with over half of the increase due to an 18.5% rise in gasoline prices.
  • Indexes for diesel fuel, electric power, residential natural gas, motor vehicles and equipment, and processed young chickens also moved higher.
  • Services cost rose 0.4%, slightly less than 0.6% in May, and mainly due to higher margins for food and alcohol retailing (3.8%).
  • Prices for machinery and equipment wholesaling, outpatient care, transportation of passengers, guestroom rental, and hospital inpatient care also increased.

Energy Affect

The index for final demand goods increased 2.4% month-over-month, with over 90% of the advance owed to a 10.0% increase in prices for final demand energy.
The index for processed goods for intermediate demand rose 2.3% month-over-month with most of the increase due to a 9.9% increase in prices for processed energy goods.
The index for unprocessed goods for intermediate demand jumped 9.5% month-over-month with prices for unprocessed energy materials rising 20.4%.

US PPI June 2022

United States Consumer Price Index (CPI)
US PPI Annually
United States Producer Price Inflation MoM
US PPI Monthly

United States Producer Prices Final Demand Less Foods and Energy


United States Producer Prices Final Demand Less Foods and Energy YoY
US Core PPI Inflation Annually
United States Producer Prices Final Demand Less Foods and Energy MoM
US Core PPI Inflation Monthly

Source BLS

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