The Producer Price Index (PPI) rose slightly more than expected in June, though final demand for producer prices were just 0.1% higher. The Labor Department said the so-called core–excluding foods, energy, and trade services–gained 0.2% in June.
For the 12 months ended in June, the index for final demand less foods, energy, and trade services gained 2.0%.
Prices for services gained 0.2% and the reading for trade services, which tracks the retail and wholesale sectors, fell by the same percentage. Food prices rose 0.6% following May’s 0.2% decline.
However, food was offset by a 0.5% decline in energy prices.