Core PPI up 9.6% annualized (0.8% MoM) in May

In July 2026, the Producer Price Index for final demand remained unchanged seasonally adjusted, while the core PPI (excluding foods, energy, and trade services) rose 0.4% monthly and 4.7% annually. The flat headline reading was driven by offsetting movements: a 0.7% decline in final demand goods, primarily due to a 5.7% drop in gasoline prices, was balanced by a 0.2% increase in final demand services.