U.S. Producer Price Index (PPI) Report Summary: July 2026

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The U.S. Producer Price Index (PPI) for final demand was flat (0.0%) in July 2026 on a seasonally adjusted basis, following a 0.1% decrease in June and a 0.5% increase in May. On an unadjusted basis, total final demand rose 4.7% over the 12 months ended in July. The monthly stagnation was driven by falling energy and food prices highlighted by a 5.7% drop in gasoline and a 3.1% decline in overall final demand energy, which fully offset a 0.2% increase in services and a 2.2% jump in construction prices. Core PPI, which excludes volatile foods, energy, and trade services, accelerated by 0.4% month-over-month and matched the headline index with a 4.7% year-over-year gain.



Further back in the supply chain, intermediate demand showed mixed trends across production stages. Input prices for processed goods fell 0.6%—largely pulled down by a 6.7% drop in diesel fuel while unprocessed goods dropped 1.8%, heavily influenced by an 11.9% plunge in crude petroleum prices. Conversely, intermediate services gained 0.5%, driven higher by a 6.5% advance in portfolio management as well as gains in internet advertising and wholesale margins. Overall, production flow indicators reflected cooling input costs for early-stage goods, even as service-related overheads continued to show upward pressure.
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