PPI Data: July’s Results Mixed, Steel Still Falling

Producer prices fell in July, stunning a 27-month growth run. Last month the headline index declined by 3.1%, seasonally adjusted, driven by a plunge in energy prices that slowed the pace of inflation, the US Labor Department reported.

July’s producer price index (PPI), a measure of the prices received for final-demand products, fell 0.5% from June, the first month-over-month (MoM) decline since April 2020. The result was a surprise, as the consensus estimate was a 0.2% increase for the period.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.