By Tom Burnett CFA
On July 14, 2022, the Bureau of Labor Statistics released the PPI (Producer Price Index) figures for the month of June. All data in this article are taken from the BLS Press Release. The June PPI increase was 1.1%. The PPI increases for May and April were 0.9% and 0.4% respectively. The average monthly increase for the first six months of 2022 is 1.05%. The PPI rose by 11.3% in the 12 months ended in June, second only to the March figure of 11.6% this year. In June, the bulk of the increase came from goods which rose by 2.4% in the month, well above the 0.4% for services.
The Core PPI, excluding food and energy, rose by 0.3% in June, following increases of 0.4% in May and April. For the 12 months ending in June, the Core PPI rose by 6.4%. That increase compares to 6.7% for May and 6.8% for April. Energy prices rose by 10.0% in the month of June.
The next PPI news release will be issued on August 11, 2022.