US Producer Prices Stagnate Due To Falling Services Costs
US wholesale inflation was little changed in June, held down by a decline in services costs, suggesting companies are absorbing at least some of the costs of higher import duties.
The producer price index was unchanged from the previous month, following an upwardly revised 0.3% increase in May, according to a Bureau of Labor Statistics report released Wednesday. The median forecast in a Bloomberg survey of economists was for a 0.2% increase. Excluding food and energy, the PPI was also little changed. (alg)
Source: Bloomberg