Market Commentary and Intraday News
News Summary: US wholesale prices tick up in June
313 days ago
By The Associated Press
WHOLESALE PRICES RISE: The producer price index increased 0.1 percent in June from May, the first increase after four months of declines, the Labor Department said Friday. Higher costs for food and pickup trucks offset a drop in energy prices.
INFLATION MILD: In the past year, wholesale prices have risen only 0.7 percent, matching the 12-month increase in May. That was the slowest since October 2009.
FOOD PRICES: Still, food prices increased 0.5 percent. The price of meat jumped 3.1 percent, the biggest increase in more than a year. Some economists worry those costs could increase further if a Midwest drought endures.
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