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July Industrial Prices +0.4% MOM, -2.7% YOY

  • Industrial Product Price Index +0.4% MOM vs consensus +0.1%; YOY -2.7%.
  • IPPI excluding energy and petroleum 0% MOM, back to this year's trend following a sharp -0.9% MOM in June.
  • IPPI energy/petroleum measure +4.1% MOM, -22% YOY. Softwood lumber +16% MOM, most since Dec 2021 amid wildfires and Vancouver port strike.
  • Raw materials +3.5% MOM after two consecutive declines; -11% YOY.

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