The Producer Price Index increased by 1.8% in June to 174.1 (1982=100), expected to increase by 0.9%, following a 0.2% increase in May, and a 0.3% increase in April. Over the year, the index has decreased by 4.6%.The index for energy goods jumped 6.6% after advancing 2.9% in the prior month.Prices for consumer foods increased by 1.1%, following a 1.6% drop in May.Excluding food and energy prices, Core PPI increased by 0.5%, following a 0.1% decrease in May and a 0.1% increase in April.
Retail Sales increased by 0.6% in June to$342.1 billion, more than the 0.4% growth analysts had expected , after advancing 0.5% in May and falling 0.2% in April.Over the past year, retail sales volume has decreased by 9.0%.Sales in gasoline stations showed to be strongest in May, increasing by 5.0% over the month, although since June of 2008 sales at gasoline stations have declined by 31.6%.Retail sales excluding autos, which is another followed indicator as consumption of automobiles historically tends to be a more volatile component of spending, also showed an increase by 0.3%.Over the past year, retail sales excluding autos have declined by 7.9%.Sales in motor vehicle parts and dealers are up 2.3% over the month, but are down 14.1% over the year.
Business Inventories are down 1% in May to $1,368.1 billion after declining 1.3% in April, revised from 1.1%, and are down 8% from May 2008 levels.
Upcoming Releases
CPI (07/15 at 8:30 AM EST)
FOMC Minutes (07/15 at 2:00 PM EST
Initial Claims (07/16 at 8:30 AM EST)
Housing Starts (07/17 at 8:30 AM EST)
