U.S. Producer Prices Inch Up Less Than Expected In June
(RTTNews) - Following yesterday's tamer-than-expected consumer price inflation data, the Labor Department released a separate report on Thursday showing producer prices in the U.S. also inched up by slightly less than expected in the month of June.
The Labor Department said its producer price index for final demand crept up by 0.1 percent in June after falling by a revised 0.4 percent in May.
Economists had expected producer prices to rise by 0.2 percent compared to the 0.3 percent dip originally reported for the previous month.
The report also said the annual rate of producer price growth slowed to just 0.1 percent in June from a revised 0.9 percent in May.
The pace of growth was expected to slow to 0.4 percent from the 1.1 percent originally reported for the previous month.
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