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US annual PPI inflation tops expectations, stocks fall

S&P 500 and Nasdaq 100 futures fell to premarket lows after the release of the US Producer Price Index (PPI) for June, which indicated a higher-than-anticipated increase in prices.

The US Bureau of Labor Statistics (BLS) announced that the PPI, excluding food and energy, rose by 3.0% year-over-year against an estimated 2.5%, and by 0.4% month-over-month compared to the 0.2% forecast.

The data also showed that US producer prices in June increased by 0.2% month-over-month, which was above the expected 0.1% rise.

This suggests that inflationary pressures remain persistent, as businesses are experiencing higher costs for goods and services, which may eventually be passed on to consumers.

In a broader context, the overall producer prices in the US rose by 2.6% year-over-year, above the consensus of +2.3% .

The BLS also noted that the final demand producer prices in May showed no change.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.