The Bureau of Labor Statistics (BLS) said the Producer Price Index (PPI) for final demand rose by a seasonally adjusted 0.3% in June, beating the forecast. Economists had forecast a 0.1% to 0.3% range.
The gain was largely fueled by a rise in the index for final demand is attributable to a 0.4% gain in prices for final demand services. The index for final demand goods ticked up 0.1%.
Prices for final demand less foods, energy, and trade services gained 0.3% in June after rising 0.1% in May. Economists had forecast a 0.2% gain.
For the 12 months ended in June, the index for final demand less foods, energy, and trade services rose 2.7%.