Producer Price Index July 2023 release for June Data.

The BLS has released the June Producer Price Index Report.  (historical releases) 

The Producer Price Index for final demand increased 0.1 percent in June, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices declined 0.4 percent in May and edged up 0.1 percent in April. (See table A.) On an unadjusted basis, the index for final demand advanced 0.1 percent for the 12 months ended in June. 

In June, the increase in final demand prices can be traced to a 0.2-percent rise in the index for final demand services. Prices for final demand goods were unchanged.

The index for final demand less foods, energy, and trade services moved up 0.1 percent in June after no change in May. For the 12 months ended in June, prices for final demand less foods, energy, and trade services advanced 2.6 percent.

The rate of increases has slowed and selected areas are now trending downward. The PPI since start of Covid has risen 17.8%, compared to the CPI rise of 18.3%. (That is just two data points and should not be construed as any indication of some guaranteed future changes.)

The downward trend continues...

Except...

The attention is now shifting to "services"..

Even this will likely resume falling by next month, as it is an annual rate. The montly stood flat, after two months of gains.

Still, a good report... IF the trend continues.