The producer price index rose a modest 0.1% in June, indicating that inflation remains muted. Economists polled by MarketWatch had predicted a 0.1% fall.
The increase in wholesale inflation over the past year fell to 1.7%, the lowest level since January 2017, the government said Friday. Wholesale energy prices dropped 3.1% in June.
Wholesale food costs rose 0.6%. Excluding food, energy and trade margins, core PPI rate was flat last month after two straight months of 0.4% gains. The yearly rate of increase in core prices decreased to 2.1% from 2.3%.