Biggest PPI Drop Since 2023 | S3 E154 | 07-15-26

Biggest PPI Drop Since 2023 | S3 E154 | 07-15-26

July 15, 2026 · 4 min · Season 3 · Episode 154

About this episode

Megan Horneman discusses the significant drop in the Producer Price Index and its implications for the Federal Reserve's upcoming decisions.

The Producer Price Index for June came in much better than expected, with the headline number falling 0.3% instead of holding flat, the biggest monthly decline since October 2023. So what drove the drop? How does it compare to yesterday's CPI report? Why does the softer core reading still leave the Fed with a decision to make? This matters right now because the Fed is weighing whether to hold steady or move again in September, and this report cuts both ways. Energy prices did a lot of the wo...

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