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June PPI Preview - 08:30 EDT/13:30 BST......>

US DATA
US DATA: June PPI Preview - 08:30 EDT/13:30 BST
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- June PPI is expected to hold steady based on the Bloomberg consensus and by
0.1% based on an MNI survey of analysts following a 0.1% gain in May.
- Core PPI is expected to rise by 0.2% based on both the Bloomberg and MNI
surveys, repeating the May 0.2% gain
- Based on the AAA and PPI data, energy prices are expected to decline further,
while food prices are seen ticking up.
- MNI survey data showed a tendency to underestimate headline PPI, including
each of the last seven years, so an upside surprise is possible. For core CPI,
results have been evenly split between underestimates and correct estimates over
the last 10 years, with no overestimates, so an upside surprise is also possible
for the core measure.

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