June PPI
Updated: 16-Jul-25 09:23 ET





Highlights

• The index for final demand was unchanged month-over-month in June (Briefing.com consensus: 0.2%) following an upwardly revised 0.3% increase (from 0.1%) in May.
• The index for final demand, less foods and energy, was also unchanged month-over-month (Briefing.com consensus: 0.2%) following an upwardly revised 0.4% increase (from 0.1%) in May.
• The index for final demand was up 2.3% year-over-year, versus 2.7% in May, while the index for final demand, less foods and energy, was up 2.6% year-over-year, versus 3.2% in May.

Key Factors

• The index for final demand goods rose 0.3% after ticking up 0.1% in May.
• The index for final demand services decreased 0.1% after increasing 0.4% in May.
• The index for processed goods for intermediate demand rose 0.1% after increasing 0.1% in May.
• The index for unprocessed goods for intermediate demand jumped 0.7% following a 2.0% decline in May.

Big Picture

• The key takeaway for the market is the disinflation seen on a month-over-month and year-over-year basis. That is clearly moving in the Fed's preferred direction, and the unchanged readings for June should foster good thoughts about what the PCE Price Index for June will show when it is released.

Category	JUN	MAY	APR	MAR	FEB
Final Demand	0.0%	0.3%	-0.3%	-0.1%	0.1%
Core (excluding ...)
Food and Energy	0.0%	0.4%	-0.2%	0.3%	0.1%
Food, Energy, and Trade	0.0%	0.1%	-0.2%	0.2%	0.4%
Final Demand Goods
Total	0.3%	0.1%	0.0%	-0.9%	0.3%
Energy	0.6%	-0.3%	-0.3%	-3.9%	-1.4%
Finished Goods	0.4%	0.3%	-0.2%	-1.3%	0.2%
Final Demand Services
Total	-0.1%	0.4%	-0.3%	0.2%	0.1%
Trade	0.0%	1.1%	-0.4%	0.5%	-0.8%
Intermediate Demand
Processed	0.1%	0.1%	0.3%	-0.1%	0.4%
Unprocessed	0.7%	-2.0%	-3.8%	-4.0%	0.2%
Services	-0.1%	0.1%	-0.2%	0.3%	0.0%