The BLS has released the July Producer Price Index Report. (historical releases)
The Producer Price Index for final demand increased 0.3 percent in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices were unchanged in June and declined 0.3 percent in May. (See table A.) On an unadjusted basis, the index for final demand advanced 0.8 percent for the 12 months ended in July.
In July, the increase in final demand prices was led by a 0.5-percent rise in the index for final demand services. Prices for final demand goods edged up 0.1 percent.
The rate of increases has somewhat slowed and selected areas are now trending downward. The PPI since start of Covid has risen 17.3%, compared to the CPI rise of 19.2%. (That is just two data points and should not be construed as any indication of some guaranteed future changes.)
Certainly improvement, but overall a "D" rating as for inflation outlook, imho. August would appear to have a further inflation uptick, from July's reports.
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