US PPI for the month of June 2020
- Prior month
- ex food and energy MoM -0.3% vs. +0.1% estimate
- ex food and energy, trade +0.3 vs. +0.1 estimate
- final demand year on year -0.8% vs. -0.2% estimate
- ex food and energy year on year plus 0.1% vs. +0.4% estimate
- ex food, energy, trade -0.1% vs. -0.2% estimate
Lower pipeline inflation underscores the need for the Fed to remain on hold for a long time. Remember, before coronavirus the Fed was desperately trying to get inflation back up to the 2% target. The threat is that inflation will remain even lower over the foreseeable future.
