US PPI dropped -0.2% mom in June versus expectation of 0.4% mom. PPI core dropped -0.3% mom versus expectation of 0.1% mom. Annually, PPI was unchanged at -0.8% yoy, below expectation of -0.4% yoy. PPI core slowed to 0.1% yoy, down from 0.3% yoy, missed expectation of 0.5% yoy.
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