US PPI MoM Holds At 0.0%, Below 0.2% Consensus

US producer price index (PPI) rose 0.0% month-on-month in July 2026, missing the consensus estimate of a 0.2% increase. The July reading in the United States followed a 0.1% decline in June 2026, marking a 0.1 percentage point pickup in the monthly pace of producer prices. This flat July outcome keeps US producer inflation subdued on a short-term basis, with the index hovering close to zero after a modest decline in the prior month. The latest release does not provide a detailed breakdown of which specific goods or services components within the PPI basket drove the stabilization in July. Compared with readings over the past year, this tame producer price performance aligns with a broader disinflationary backdrop in the US economy, occurring alongside tighter financial conditions and easing cost pressures in some traded-goods sectors. Market participants now monitor how this softer-than-expected PPI print interacts with recent consumer inflation data and Federal Reserve communications ahead of upcoming US releases on personal consumption expenditures prices and labor market indicators. Updated 8/13/26