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US June PP +0.1% vs +0.0% expected

June PPI
– Prior was 0.0%
– Ex food and energy +0.1% vs +0.2% exp
– Ex food, energy and trade +0.2% vs +0.2% exp
Year-over-year data
– 2.0% vs 1.9% exp
– Ex food and energy 1.9% vs 2.0% exp
The headline numbers are a touch strong and the core numbers are a touch soft. On net, there isn’t anything to