U.S. producer inflation cools faster than expected as jobless claims top forecasts

U.S. producer price inflation cooled sharply in July, while initial jobless claims came in above expectations. The Producer Price Index (PPI) rose 4.7% year over year, below the 4.9% consensus estimate and down from 5.5% in June. On the month, headline PPI was flat. Headline PPI: 4.7% YoY | 0.0% MoM Core PPI: 4.2% YoY | 0.2% MoM Initial jobless claims totaled 209K, compared with 202K expected. The data follow Wednesday's July CPI report showing inflation at 3.4%, reinforcing signs that price pressures are easing across the board.