- Prior was -5.5%
- Producer prices m/m +0.4% vs -0.6% prior
- Raw materials price index -11.1% y/y vs -19.7% prior
- Raw materials price index+3.5% m/m vs -1.5% prior
PPI rose after three months of declines. Prices for energy and petroleum products rose 4.1% month over month, a second consecutive monthly increase. Year over year, prices were 22.2% lower compared with July 2022. The prices of diesel fuel (+7.0%) and finished motor gasoline (+1.5%) rose month over month in July 2023.
Lumber also rose 16.4% but has since given it all back while prices for chemicals and chemical products fell 2.6% month over month in July.