Producer Inflation Up Modestly in June; Unemployment Claims Decline
Today, the U.S. Bureau of Labor Statistics reported that the Producer Price Index (PPI), which measures the change in the selling prices received by domestic producers for their output, increased by 0.1% month-over-month in June. This was below trade expectations for a 0.2% gain.
On an unadjusted basis, the index for final demand also advanced by 0.1% annually. This was the lowest level since August 2020. Economists were expecting a 0.4% year-over-year increase...
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