You producer prices US USA increased more than expected in June, suggesting that inflation could remain high as robust demand fueled by the economic recovery continues to put pressure on the supply chain.
- Interest, Dollar, Inflation, BC, Selic. Understand all the terms of economics. Sign the EXAM
The producer price index for final demand rose 1.0% last month, after rising 0.8% in May, the Labor Department said on Wednesday. In the 12-month period through June, the index increased by 7.3%. That was the biggest year-on-year increase since November 2010, followed by a 6.6% increase in May.
Economists polled by Reuters had predicted the index would rise 0.6% in June and 6.8% compared with a year earlier.