Woofun AI data shows that the US June core Producer Price Index, excluding food and energy, increased by 4.7% year-on-year and 0.2% month-on-month. The overall PPI growth rate slowed to a 5.5% year-on-year increase, driven by a 6.4% decline in energy costs and lower transportation prices. This softer inflation data, combined with milder June CPI figures, may provide the Federal Reserve with additional room to delay interest rate hikes.

However, freight rates remain elevated due to driver shortages linked to immigration policies, while food prices saw their first three-month decline after rising earlier this year due to weather and tariffs.