The Bureau of Labor Statistics released the Producer Price Index for Finished Goods (PPI) today. Seasonally adjusted, PPI increased by 1.79% in June 2008 compared to May. PPI was 9.06% higher than a year ago, which is the highest PPI has been since 1981. The median analyst expectation for month over month PPI was 1.4%. Core PPI (PPI less food and energy) was up 0.24% compared to May and was 3.09% higher than a year ago. This is the highest core PPI has been since 1991. The median analyst expectation for month over month core PPI was 0.3%. Inflation pressures continue to rise even as the economy is weakening.
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