US producer prices edge past forecasts in June

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.