Producer Prices Unexpectedly Slide -0.4%, Missing Expectations, As Prices For Clothing, Jewelry, Beef Tumble
by Tyler Durden
ZeroHedge.com
Aug 12, 2016
Just as moments ago a far weaker than expected retail sales report once again confounded economic watchers who, in the aftermath of the second month of surprisingly strong payrolls, were expecting the upward momentum to continue, so at the same time we got the latest producer price report, according to which PPI for final demand decreased 0.4% in July. 60% of the decrease in prices for final demand services is attributable to margins for apparel, jewelry, footwear, and accessories retailing, which fell 6.0 percent, while a major factor in the decrease in the index for final demand goods was prices for beef and veal, which fell 9.8%.
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