U.S. producer prices accelerate in June, but underlying inflation slowing

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Reuters

WASHINGTON (Reuters) – U.S. producer prices increased more than expected in June amid rising costs for energy products, but underlying producer inflation appeared to have peaked. The producer price index for final demand climbed 1.1% last month after rising 0.9% in May, the Labor Department said on Thursday. In the 12 months through June, the PPI increased 11.3%after advancing 10.9% in May. A 2.4% rise in goods prices accounted for three quarters of the increase in the PPI. Goods prices gained 0.4% in May. Nearly 90% of last month rise in goods prices was attributed a 10.0% jump in energy pric…

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