U.S. producer-price inflation unexpectedly eased in June, with core PPI (ex-food
and energy) up 4.7% YoY and 0.2% MoM, the Bureau of Labor Statistics said on
Wednesday; headline PPI rose 5.5% YoY. The data suggest effects from the
Iran-related conflict remain, to some extent, contained. Separately, the New
York Fed said its manufacturing business conditions index recovered in July as
new orders and shipments increased, and the employment indicator reached its
highest level since Dec 2022. Prices-paid measures pulled back but stayed
elevated, and firms’ expectations for future input and selling prices declined.
