Producer prices in the US unexpectedly fell 0.5% month-over-month in July of 2022, following a downwardly revised 1% rise in June and beating market forecasts of a 0.2% increase. It is the first decline in the PPI in over two years, mostly due to a 16.7% drop in gasoline prices. Also, the cost of diesel fuel, gas fuels, oilseeds, iron and steel scrap, and grains moved lower. In contrast, cost of services edged up 0.1%, mainly due to a rise in prices for margins for fuels and lubricants retailing (12.3%) and transportation and warehousing services (0.4%). Also, producers paid more for services related to securities brokerage and dealing, hospital outpatient care, automobiles, automobile parts retailing, and transportation of passengers. On an annual basis, producer inflation fell to 9.8%, the lowest since October and compared to forecasts of 10.4%. source: U.S. Bureau of Labor Statistics
Producer Price Inflation MoM in the United States averaged 0.23 percent from 2009 until 2022, reaching an all time high of 1.60 percent in March of 2022 and a record low of -1.30 percent in April of 2020. This page includes a chart with historical data for the United States Producer Price Inflation MoM. United States Producer Price Inflation MoM - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
Producer Price Inflation MoM in the United States is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Producer Price Inflation MoM is projected to trend around 0.20 percent in 2023, according to our econometric models.