Wholesale prices unexpectedly fell in June as sliding energy prices helped brighten the inflation picture, the Bureau of Labor Statistics reported Wednesday.
The produce price index posted a seasonally adjusted 0.3% decline for the month, compared to the Dow Jones consensus estimate for the final-demand cost measure to be unchanged
On an annual basis, the index indicated a 5.5% inflation rate. Excluding food and energy, core PPI rose 0.2%, against the outlook for a 0.3% increase. As with consumer prices, the index benefited from easing energy costs, particularly as oil fell due to receding tensions between the U.S. and Iran.
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