WASHINGTON (AP) — Rising gasoline costs pushed up the prices U.S. companies receive for their goods and
services in June, but overall inflation remains tame.
The Labor Department says the producer price index, which measures the cost of goods and services before
they reach the consumer, rose 0.4 percent last month. The increase follows a 0.2 percent decrease in
May.
Gas costs rose 6.4 percent in June. Steel prices shot up 3 percent. But prices fell for grains, cheese
and rental cars.
In the past 12 months, producer prices have risen 1.9 percent, roughly in line with the Federal Reserve’s
inflation target of 2 percent.
Retailer and wholesaler profit margins increased 0.2 percent. Excluding the volatile food, energy and
profit margin categories, core producer prices were up 0.2 percent in June.WASHINGTON (AP) — Rising
gasoline costs pushed up the prices U.S. companies receive for their goods and services in June, but
overall inflation remains tame.
The Labor Department says the producer price index, which measures the cost of goods and services before
they reach the consumer, rose 0.4 percent last month. The increase follows a 0.2 percent decrease in
May.
Gas costs rose 6.4 percent in June. Steel prices shot up 3 percent. But prices fell for grains, cheese
and rental cars.
In the past 12 months, producer prices have risen 1.9 percent, roughly in line with the Federal Reserve’s
inflation target of 2 percent.
Retailer and wholesaler profit margins increased 0.2 percent. Excluding the volatile food, energy and
profit margin categories, core producer prices were up 0.2 percent in June.