US PPI at 0.1% mom, 2.2% yoy in Jul, below expectations

US PPI for final demand rose 0.1% mom in July, below expectation of 0.2% mom. PPI goods rose 0.6% while PPI services fell -0.2% mom. PPI less foods, energy, and trade services rose 0.3% mom.

For the 12 months ended in July, PPI rose 2.2% yoy, slowed from 2.7% yoy, below expectation of 2.3% yoy. PPI less foods, energy, and trade services rose 3.3% yoy.

Full US PPI release here.