USA Core PPI (YoY) For July 2.4% Vs 2.7% Est.; 3.0% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Core Producer Price Index (PPI) for July came in at 2.4% year-over-year, below the estimated 2.7% and the prior 3.0%.
August 13, 2024 | 12:30 pm
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POSITIVE IMPACT
The USA Core PPI for July came in lower than expected at 2.4% YoY, which could indicate easing inflation pressures. This may positively impact SPY as lower inflation can lead to a more favorable economic environment.
Lower-than-expected PPI suggests easing inflation, which can be favorable for the stock market. SPY, being a broad market ETF, is likely to benefit from a more stable economic outlook.
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