Producer Price Index: Regular:+0.2%, 12 mo:+2.6%, Core:+0.0%, 12 mo:+3.1%

[progree]

2. AP: "US wholesale inflation picked up in June in sign that some price pressures remain elevated"

US wholesale inflation picked up in June in sign that some price pressures remain elevated, AP, 7/12/24 (via Yahoo Finance)

Wholesale prices in the United States rose by a larger-than-expected 2.6% last month from a year earlier, a sign that some inflation pressures remain high.

The increase, the sharpest year-over-year increase since March 2023, comes at a time when other price indicators are showing that inflation has continued to ease.

The Labor Department said Friday that its producer price index — which tracks inflation before it reaches consumers — rose 0.2% from May to June after being unchanged the month before.

Excluding food and energy prices, which tend to bounce around from month to month, so-called core wholesale prices increased 0.4% from May and 3% from June 2023. ((I track the core one that also excludes trade services because that's the core measure the BLS highlights, that was June: +0.0%, 12 months:+3.1%. Quite a difference from +0.4% and +3.0% above, sigh --Progree))

The increase in wholesale inflation last month was driven by a sizable 0.6% rise in services prices, led by higher profit margins for machinery and auto wholesalers.

By contrast, the overall prices of goods fell 0.5%. Gasoline prices tumbled 5.8% at the wholesale level. Food prices also dropped.

More: https://finance.yahoo.com/news/us-wholesale-inflation-picked-june-124129902.html