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Economics

US Producer Prices Top Forecasts But Signs of Softening Emerge

  • PPI climbs 11.3% from a year earlier, and 1.1% from May
  • Three-fourths of advance due to goods, particularly energy
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A key measure of US wholesale and business prices jumped in June by more than forecast, though some signs of cooling inflationary pressures began to emerge that may eventually spell relief for consumers.

The producer price index for final demand increased 11.3% from June of last year and 1.1% from the prior month, Labor Department data showed Thursday. Three-fourths of the advance last month was due to goods, particularly energy.