Investing.com – Producer price inflation in the U.S. declined more-than-expected in June, official data showed on Thursday.
In a report, the Bureau of Labor Statistics said that PPI declined by a seasonally adjusted 0.4% in June, after rising by 0.2% in May.
Analysts had expected PPI to decline by 0.2% in June.
Year-over-year, the producer price index rose at an annualized rate of 7.0% in June, after advancing at a rate of 7.3% in May and below expectations for a gain of 7.4%.
Core PPI, which excludes food and energy costs, rose more-than-expected in June, increasing by 0.3% after rising by 0.2% in the preceding month. Analysts had expected core PPI to rise by 0.2%.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD rising 0.13% to trade at 1.4182.
Meanwhile, the outlook for U.S. equity markets was modestly upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.1%, S&P 500 futures climbed 0.25%, while the Nasdaq 100 futures indicated an increase of 0.45%.
In a report, the Bureau of Labor Statistics said that PPI declined by a seasonally adjusted 0.4% in June, after rising by 0.2% in May.
Analysts had expected PPI to decline by 0.2% in June.
Year-over-year, the producer price index rose at an annualized rate of 7.0% in June, after advancing at a rate of 7.3% in May and below expectations for a gain of 7.4%.
Core PPI, which excludes food and energy costs, rose more-than-expected in June, increasing by 0.3% after rising by 0.2% in the preceding month. Analysts had expected core PPI to rise by 0.2%.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD rising 0.13% to trade at 1.4182.
Meanwhile, the outlook for U.S. equity markets was modestly upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.1%, S&P 500 futures climbed 0.25%, while the Nasdaq 100 futures indicated an increase of 0.45%.