PRODUCER PRICES UP 7.3% IN LAST YEAR, HIGHEST INCREASE ON RECORD

Key Points:

  • U.S. producer prices accelerated in June with the largest annual increase in more than 10 years.
  • The Producer Price Index (PPI) increased 1.0% in June, following 0.8% rise in May, and a 0.6% in April.
  • PPI has increased 7.3% in the last year, the highest increase on record.
  • Services account for nearly 60% of the surge in PPI.
  • Core PPI increased 0.5% in June, and is up 5.5% in the last year.
  • The increase in producer prices comes days after consumer prices rose 0.9% in June and 5.4% in the last year.
  • The Right Facts will continue to monitor price increases.
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