US PPI not rise in June as it is expected

US PPI not rise in June as it is expected

US Department of Labor reported today that producer price index (PPI) recorded a 0.3% decrease in June as food and energy showed a decline. The year-on-year increase in the PPI fell back to 4% in June from 5% recorded in May. Economists had expected a 0.2% rise in the PPI. The core PPI, which excludes food and energy goods, rose by 0.2% as expected. Prices have risen as expanding economies worldwide boosted demand for basic materials. Energy and food prices fell by 1.6% and 0.6% in June respectively. It is the first decline in energy prices since November. In the mentioned period, auto prices soared by 1.1%.