Data from the U.S. Bureau of Labor Statistics shows that the final demand PPI was flat month-over-month in July (0.0%), lower than the market expectation of 0.2%, with the previous value revised down to -0.1%; year-over-year, it rose 4.7%, the smallest increase since March, lower than the expected 4.9%. Core PPI rose 0.2% month-over-month, in line with expectations; year-over-year, it rose 4.2%. Among the components, final demand commodity prices fell 0.7% month-over-month, with energy prices plunging 3.1% being the main drag. Specifically, gasoline prices plummeted 5.7% month-over-month, diesel fuel fell 6.7% month-over-month, and jet fuel fell 15.2% month-over-month. Service prices rose 0.2% month-over-month, with portfolio management rising sharply by 6.5% month-over-month.
