Trucking rates fall again

Aug 09, 2019 at 02:48 PM CST
Data on producer prices shows that wholesale inflation pressure was nearly nonexistent in July. Industry detail showed broad-based declines in trucking rates, and yearly it is likely to turn negative in upcoming months. The Bureau of Labor Statistics reported that the producer price index (PPI) rose 0.2 percent in July from June’s levels. This fell in line with consensus estimates and follows two consecutive months of 0.1 gains in May and June. Overall results during the month were helped by 0.4 percent growth in goods prices, led by a 2.3 percent rebound in energy prices. This helped offset a 0.1 percent decline in service prices for trade services, which ended a streak of five consecutive monthly gains in the sector. The core PPI, which excludes food, energy and trade services, fell 0.1 percent in July as year-over-year growth fell to a two and a half year low of 1.7 percent.

Aug 09, 2019 at 02:48 PM CST

Data on producer prices shows that wholesale inflation pressure was nearly nonexistent in July. Industry detail showed broad-based declines in trucking rates, and yearly it is likely to turn negative in upcoming months. The Bureau of Labor Statistics reported that the producer price index (PPI) rose 0.2 percent in July from June’s levels. This fell in line with consensus estimates and follows two consecutive months of 0.1 gains in May and June. Overall results during the month were helped by 0.4 percent growth in goods prices, led by a 2.3 percent rebound in energy prices. This helped offset a 0.1 percent decline in service prices for trade services, which ended a streak of five consecutive monthly gains in the sector. The core PPI, which excludes food, energy and trade services, fell 0.1 percent in July as year-over-year growth fell to a two and a half year low of 1.7 percent.