US PPI Slows to 4.7% Y/Y as July Prices Come in Flat
US producer inflation came in softer than expected at headline level in July, reinforcing evidence that price pressures from first oil shock are fading. PPI improved from a revised -0.1% to 0.0% m/m, below 0.2% consensus. Annual rate slowed sharply from 5.5% to 4.7%, undershooting 4.9% expected. Weakness was concentrated in goods, where prices fell…