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US producer prices edge up 0.1% in June

US producer prices edge up 0.1% in June

Mubasher: The seasonally adjusted US producer price index (PPI) for final demand inched up by 0.1% in June, recording the same increase in May, official data showed on Friday.

The increase in final demand costs came last June, as the index measuring the prices for final demand services rose by 0.4%, whereas prices for goods declined by 0.4%, the US Bureau of Labor Statistics (BLS) said.

The unadjusted final demand index rose by 1.7% over the 12-month period ended June, marking the weakest gain since January 2017.

Stripping out volatile food, energy products and trade services, the PPI for final demand went up by 0.4% last month, recording the same gain during the prior month, while the gauge climbed by 2.1% year-on-year.

By 12:33 pm GMT, the US dollar index, which measures the greenback against six major currencies, ticked down by 0.01% to 97.04.