Wholesale prices rose slightly in July but less than analysts expected.
However, all four supply-chain stages registered increases in goods prices from the previous month. The increases come after June’s report found three of the four supply-chain stages registered price decreases.
Three of the four supply-chain stages registered their highest year-over-year increases since August or February of 2023.
The producer price index (PPI), which measures pipeline costs for raw, intermediate and finished goods, rose 0.1% in July from the previous month. Economists surveyed by Dow Jones were expecting a 0.2% increase for the index.
On an annual basis, PPI rose 2.2%, down from a 2.7% increase in June.
Stage 4 goods inputs, measuring the products purchased by industries primarily producing output sold to final demand, such as RV manufacturers, rose 0.2% in July after a 0.2% decrease in June. Overall, Stage 4 intermediate demand rose 2.4% in June, the largest monthly increase since August 2023.
Goods inputs for Stage 3 intermediate demand, measuring suppliers to Stage 4 producers such as RV manufacturers, increased 1.7% in July after a revised 0.4% decrease in June. Overall, year-over-year Stage 3 demand rose 2.2%, the largest year-over-year increase since February 2023.
Goods inputs for Stage 2 intermediate demand, measuring suppliers to Stage 3 suppliers, rose 2.8% in July after a revised 1.4% increase in June. Overall, Stage 2 intermediate demand rose 2.8% in July.
Finally, goods inputs for Stage 1 demand rose 0.8% in July after a 0.3% decrease in June. Overall, Stage 1 intermediate demand rose 1.6% in April, the largest year-over-year increase since February 2023.
