US producer prices edge past forecasts in June
(ShareCast News) - US factory gate prices help up slightly better than expected despite another weak month in terms of energy costs.
In June, total final demand producer prices rose by 0.1% month-on-month and by 2.0% on the year, according to the Bureau of Labor Statistics.
Economists had forecast readings of 0.0% and 1.8%, respectively.
Producer prices had risen by 2.4% the month before.
Food prices climbed 0.6% in comparison to May while energy prices declined 0.5% following a 3.0% drop during the previous month.
Services prices increased by 0.2% on the month after rising by 0.3% in May.