PPI report shows inflation has been falling from the sky over the last few months.
Everyone predicting sky-high inflation was wrong and all the fear porn peddlers look ridiculous in hindsight.
Stop listening to these people.
Forecasters who transpose the PPI and CPI into the PCE expect a mild core reading for June at +0.18% (+3.3% y/y), which would be the lowest monthly print since Nov.
Headline PCE is expected to decline -0.07% for June, lowering the 12-month rate to 3.7%