Producer prices for final demand in the US edged up 0.1 percent from a month earlier in June 2019 after a similar advance in May while markets had forecast a flat reading. An increase in services costs was partially offset by declines in energy and other goods prices. Excluding food and energy, producer prices were up 0.3 percent in June, beating forecasts of 0.2 percent. Year-on-year, the PPI rose 1.7 percent, the smallest annual gain since January 2017; while the core index rose 2.3 percent, above consensus of 2.2 percent. Producer Prices in the United States averaged 109.69 Index Points from 2009 until 2019, reaching an all time high of 118.30 Index Points in June of 2019 and a record low of 100.20 Index Points in November of 2009.
Producer Prices in the United States is expected to be 118.93 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices in the United States to stand at 119.90 in 12 months time. In the long-term, the United States Producer Prices is projected to trend around 124.62 Index Points in 2020, according to our econometric models.