From the AP via U.S. News & World Report, July 12:
Wholesale prices in the United States rose by a larger-than-expected 2.6% last month from a year earlier, a sign that some inflation pressures remain elevated
Wholesale prices in the United States rose by a larger-than-expected 2.6% last month from a year earlier, a sign that some inflation pressures remain high.
The increase, the sharpest year-over-year increase since March 2023, comes at a time when other price indicators are showing that inflation has continued to ease.
The Labor Department said Friday that its producer price index — which tracks inflation before it reaches consumers — rose 0.2% from May to June after being unchanged the month before. Excluding food and energy prices, which tend to bounce around from month to month, so-called core wholesale prices were up 0.4% from May and 3% from June 2023.
The producer price index can provide an early sign of where consumer inflation is headed. Economists also watch it because some of its components, notably healthcare and financial services, flow into the Federal Reserve's preferred inflation gauge — the personal consumption expenditures, or PCE, index....
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Here's the Bureau of Labor Statistics, July 12:
News Release
PPI for final demand rises 0.2% in June; services increase 0.6%, goods decline 0.5%07/12/2024
The Producer Price Index for final demand advanced 0.2 percent in June. Prices for final demand services increased 0.6 percent, and the index for final demand goods decreased 0.5 percent. Prices for final demand rose 2.6 percent for the 12 months ended in June.