Producer price index rises less than expected in July; core PPI flat M/M

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July Producer Price Index: +0.1% M/M vs. +0.2% expected and +0.2% prior.
+2.2% Y/Y vs. +2.6% expected and +2.7% prior (revised from +2.6%).
Final demand goods prices increased 0.6% M/M in July, its largest jump since February's 1.1%, the Bureau of Labor Statistics said on Tuesday. Nearly 60% of that increase stems from energy.
Meanwhile, prices of services, on the wholesale level, dipped 0.2% M/M, the biggest decline since 0.2% in March 2023, Trade services prices accounted for the decline.
Core PPI: 0.0% M/M vs. +0.2% consensus and +0.3% prior (revised from +0.4%).
+2.4% Y/Y vs. +3.0% expected and +3.0% prior.

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