Energy price drop cools wholesale inflation, but risk of renewed pressure looms
TL;DR Summary
Wholesale inflation cooled in June as energy prices fell sharply (gasoline down about 12%), with the Producer Price Index dipping 0.3% for the month and 5.5% year over year; core PPI slowed to 4.6% YoY. However, relief may be temporary as Middle East tensions revive oil prices and inflation pressures, including AI-related chip costs and electronics pricing, persist. Fed official Kevin Warsh cautioned against reading one data point as mission accomplished.
- Wholesale inflation improved as energy prices fell last month — but relief may be temporary CNN
- Wholesale prices unexpectedly declined 0.3% in June on big drop in gasoline CNBC
- Producer prices fall as Iran oil blockade clouds inflation outlook Los Angeles Times
- Morning Bid: Melting core Reuters
- US Producer Prices Rise at Slower Pace as Core Gauge Decelerates Bloomberg.com
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