Companies and Brands
Tame Producer Price Inflation, But First Uptick In Months
Published:
Last Updated:
While this is still low in inflation, the gains were the first in four months. Food prices and truck prices contributed to those gains. The annual rate was 0.7% for producers, but the core rate on an annualized basis was up 2.6%. As a reminder, the FOMC has an inflation target of roughly 2.0%.
Food prices rose 0.5% in June. It is also worth noting that crude goods or raw materials were down by 3.6% and that implies that prices may remain muted in the coming months as long as the recent rise in drought-related prices does not get out of hand.
JON C. OGG
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.