US PPI Registers Highest Rise in 21 Months

The Producer Price Index (PPI) in the United States recorded its highest monthly increase since October 2018, rising by 0.6% in July, data showed on Tuesday.

The reading comes as double the expectations of a recent Reuters poll, and after the index declined by 0.2% in June.

On an annual basis, the PPI decreased by 0.4% last month.

Excluding food, energy, and trade services components, producer prices increased by 0.3% on a monthly basis, and added 0.1% on a yearly basis.