Market Updates
PPI Extended Decline to the Eleventh Month In June
Brian Turner
13 Jul, 2023
New York City
The producer price index decreased 0.1% in June. following an upwardly revised 0.4% increase in May, the U.S. Bureau of Labor Statistics reported Thursday.
Core wholesale price inflation, which strips out volatile food and energy prices, also declined 0.1% in June.
On a year basis, producer price index rose at a slower pace of 0.1% in June after rising 0.9% in May,
In overseas economic news, the UK's GDP in May shrank less than expected and inflation in France eased in June.
The annual retail price inflation eased to 4.5% in June from 5.1% May, but remained well above the central bank's target rate of 2%, France's statistical agency INSEE reported Thursday.
The ongoing decline in petroleum products by 17.2% compared to 9.7% in April, drove energy prices by 3% compared to 2% in May.
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