Producer Price Index: Wholesale prices rose 0.9% in July

Inflation may be poised to tick higher, according to the most recent Producer Price Index.

The PPI came in at 0.9 percent in July, where the markets were expecting a 0.2 percent increase. On the year, the Index rose 3.3 percent, and the markets were expecting a 2.5 percent climb.

Wholesale machinery costs made up around 30 percent of the rise in prices.

Related Stories
Firm live cow prices and shifting dairy-side culling suggest cull cow values may stay stronger than usual this winter despite weaker cow beef cutout trends.
Following an on-target CPI, the combination could suggest that inflation is cooling.

LATEST STORIES BY THIS AUTHOR:

AFBF Economist Danny Munch shares how passing the Whole Milk for Healthy Kids Act could give the dairy industry a needed boost.
Jan and Erin Johnson also join FarmHER + RanchHER host Kirbe Schnoor on this week’s Dirt Diaries podcast to dig in on entrepreneurship, legacy, and letting go.
Texas Cattle Feeders Association Chairman Robby Kirkland explains how the ongoing U.S.-Mexico border closure impacts feed yards that rely on Mexican cattle due to the New World Screwworm.
While the U.S.-China framework for soybean trade is in place, Ohio farmer Chris Gibbs tells us he will believe it when he sees it.
Global nitrogen and phosphate prices remain high despite improved supply fundamentals, with limited Chinese exports and stronger fall applications tightening availability.
The Court may limit emergency tariff powers, complicating a key bargaining tool; ag could see shifts in input costs and export dynamics as China, Brazil, and India talks evolve.