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Updated · CNBC · Jul 15US Producer Prices Fall 0.3% in June as Energy Slide Cuts Annual PPI to 5.5%
3 articles · Updated · CNBC · Jul 15Summary
- A 0.3% monthly drop in June producer prices surprised economists, who had expected final-demand PPI to be unchanged.
- Energy drove the decline: gasoline and broader oil costs fell as U.S.-Iran tensions eased, improving the near-term inflation picture.
- Core PPI, which strips out food and energy, still rose 0.2% in June, but that was softer than the 0.3% increase economists had forecast.
- The annual PPI rate slowed to 5.5% from 6.5% in May, extending signs that wholesale inflation pressures have cooled from their recent peak.
Insights
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