US Producer Prices Approach Deflation With 0.1% Annual Rise
- Index for final demand posts smallest annual advance since ‘20
- Data follow consumer price report showing inflation slowing
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US producer prices barely rose in June from a year earlier, another sign of cooler inflation that will likely comfort Federal Reserve officials.
The producer price index for final demand rose 0.1% from a year earlier, the smallest advance since 2020, according to data out Thursday from the Bureau of Labor Statistics. On a monthly basis, the PPI also increased 0.1% after falling in the prior month.