FX.co ★ US Core PPI Eases to 4.7% in June, Signaling Mild Cooling in Underlying Inflation

The United States Core Producer Price Index (PPI) slowed slightly in June 2026, easing to 4.7% year-over-year from 4.9% in May, according to data updated on 15 July 2026. The indicator measures price changes for producers excluding volatile components, and the figures compare each month with the same month a year earlier.

The June reading suggests a modest cooling in underlying producer-level inflation pressures compared with May 2026. While the change is incremental, the move from 4.9% to 4.7% on a year-over-year basis may be watched closely by markets and policymakers as they assess the trajectory of input costs feeding through to consumer prices.