U.S. Producer Prices Eased in July As Energy Costs Fell
By Sarah Chaney Cambon
U.S. suppliers' price increases cooled in July from a year
earlier as energy costs dropped, a sign price pressures in the
economy have eased slightly.
The producer-price index, which generally reflects supply
conditions in the economy, increased by 9.8% on a 12-month basis in
July, the Labor Department said Thursday. That compared with a
11.3% increase in June.
Producer prices decreased a seasonally adjusted 0.5% in July
from the prior month, down sharply from June.
The PPI report comes a day after the Labor Department said
consumer prices rose 8.5% in July from the same month a year ago,
down from 9.1% in June. June marked the fastest pace of inflation
since November 1981.
The so-called core price index--which excludes the often
volatile categories of food, energy and supplier margins--climbed
0.2% in July from a month earlier, a tick slower than in June. On a
12-month basis, core PPI rose 5.8% in July, slowing from 6.4% in
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(END) Dow Jones Newswires
August 11, 2022 09:02 ET (13:02 GMT)
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