US June PPI 5.5% vs 6.2% expected

Prior was 6.5% PPI final demand m/m -0.3% vs 0.1% expected (prior was +1.1%) Core readings: PPI ex food and energy y/y 4.7% vs 5.2% expected Ex food and energy m/m +0.2% vs +0.4% expected Ex food energy, and trade +5.1% vs 5.1% prior This isn't a huge surprise given the downside miss in CPI yesterday but it underscores it and certainly validates it. This ar…

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