- The Producer Price Index for July rose 1.2% versus estimates of a .6% increase and a 1.8% gain in June.
- The PPI Ex Food & Energy for July rose .7% versus estimates of a .2% gain and a .2% increase in June.
- Housing Starts for July fell to 965K versus estimates of 960K and 1084K in June.
- Building Permits for July fell to 937K versus estimates of 970K and 1138K in June.
BOTTOM LINE: Prices paid to US producers rose more than economists had forecast in July, reflecting the jump in energy and commodity costs that has since started to wane, Bloomberg reported. Oil prices have plunged 21% since the start of last month, natural gas is down 42%, copper is down 15% and corn has dropped 14%, helping lower the cost pressures on companies.