Wholesale Prices Unexpectedly Fell 0.3% in June, BLS Reports

According to CNBC, wholesale prices unexpectedly fell in June, with the producer price index posting a seasonally adjusted decline of 0.3%, the Bureau of Labor Statistics reported Wednesday. The Dow Jones consensus estimate had called for the final-demand cost measure to be unchanged. On an annual basis, the index indicated a 5.5% inflation rate. Excluding food and energy, core PPI rose 0.2%, against the outlook for a 0.3% increase. The index benefited from easing energy costs, particularly as oil fell due to receding tensions between the U.S. and Iran.