June PPI +5.51%: Acceleration Trend Breaks on Energy Relief

June PPI came in at +5.51% year-over-year according to Bureau of Labor Statistics preliminary data released this morning, missing the 6.4%-6.6% consensus range by nearly a full percentage point and ending three consecutive months of acceleration in upstream producer prices. Month-over-month, the final demand index declined 0.19%, where markets had penciled in a flat to modestly positive reading. Key Takeaways June PPI final demand rose 5.51% year-over-year, a significant miss vs the 6.4%-6.6% consensus, per BLS preliminary data released July 15, 2026. Month-over-month, the index fell 0.19%, reversing the May trend and suggesting energy price declines more than offset ongoing tariff passthrou…
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