US producer inflation softens to 0.1% in June

By Ovunc Kutlu

ISTANBUL (AA) – US annual producer inflation softened to 0.1% in June, according to official data released on Thursday.

The figure for May was revised down to an annual gain of 0.9% from 1.1%, showed Labor Department figures.

The producer price index (PPI), which measures changes in the price of goods and services from a producer perspective, was lower than market estimates of 0.4% annual increase.

On a monthly basis, the PPI saw a gain of 0.1% in June, also coming lower than expectations of a 0.2% increase.

The monthly figure for May was revised to a 0.4% decline, from a decrease of 0.3%.

"The index for final demand services increased 0.2% in June, the same as in May," the Labor Department said in a statement. "Prices for final demand goods were unchanged in June after decreasing 1.6% in May."

Core producer prices, which exclude food, energy and trade, increased just 0.1% in June after remaining unchanged in May.

Core PPI in June increased 2.6% on an annual basis after the figure showed a gain of 2.8% in May.