The services PPI and core PPI year-on-year were pressured downward by an extreme base effect that will reverse next month for the rest of 2024
The monthly services CPI, which has been a strong shock, fell in July after positive readings in previous months. The basic goods CPI has performed well. By Wolf Richter for WOLF STREET. The sharp year-on-year slowdown in the core producer price index and services PPI in July was a one-off event, driven by the July … Read more