AI Data Insight
The latest seasonally adjusted US Producer Price Index (PPI) for July came in at 156.563, nearly flat compared to the previous reading of 156.566 (0.0% MoM increase), unexpectedly falling below the market expectation of a 0.2% increase. Among them, the significant pullback in goods prices successfully offset the stickiness in some service costs. This data further establishes the cooling trend in inflation, providing strong support for the Federal Reserve to keep interest rates unchanged in September.