USA PPI (YoY) For July 2.2% Vs 2.3% Est.; 2.7% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Producer Price Index (PPI) for July came in at 2.2% year-over-year, slightly below the estimated 2.3% and down from the prior 2.7%.
August 13, 2024 | 12:30 pm
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The USA PPI for July came in at 2.2%, slightly below expectations and down from the previous month. This could indicate a slowing inflation trend, which may positively impact the SPY ETF as it could reduce pressure on the Federal Reserve to raise interest rates.
A lower-than-expected PPI suggests a potential easing of inflationary pressures, which could reduce the likelihood of aggressive interest rate hikes by the Federal Reserve. This is generally positive for equities, including the SPY ETF.
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