The Producer Price Index (PPI) measures inflation before it’s passed down to the consumer. This morning’s number shows that it remained unchanged in June. The markets were preparing for a slightly higher reading.
Year-over-year, it’s up 2.3 percent, also lower than previously expected. This comes after yesterday’s Consumer Price Index (CPI), which was on target, indicating that inflation may finally be showing signs of cooling.
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Demand for farm loans surged in the first quarter of the year, topping the previous record set in 2016.
“It really hamstrings our availability of financing to get loans when everything is costing 30-60% more.”
“Producers want those options for identification and traceability purposes that they were promised back in 2013, and that’s what made it controversial.”
