Comprehensive underperformance! US July core PPI fell to 2.4% year-on-year, flat month-on-month
Or further open the door to the Fed's rate cut in September
The comprehensive slowdown in US July PPI may further open the door for the Fed to cut interest rates in September.
On Tuesday, August 13, the US Bureau of Labor Statistics released data showing that US July PPI rose by 2.2% year-on-year, lower than the expected 2.3% and the previous value of 2.6%, with a month-on-month increase of 0.1%, lower than the previous and expected values of 0.2%;
The core PPI in July rose by 2.4% year-on-year, lower than the expected 2.6% and the previous value of 3%; it remained flat on a monthly basis, marking the mildest increase in four months, better than the expected 0.2%, with the previous value revised down from 0.4% to 0.3%.
After the data was released, the US dollar index fell in the short term, while US stock futures rose, with the Nasdaq 100 index futures expanding by 0.9%.
Against the backdrop of gradually dissipating inflationary pressures, economists expect the Fed to start a rate-cutting cycle from September.
Updates to follow