US producer prices unchanged with wholesale inflation remaining under control
By PAUL WISEMAN, AP Economics Writer
WASHINGTON (AP) — U.S. wholesale inflation cooled last month, despite worries that President Donald Trump’s tariffs would push prices higher for goods before they reach consumers.
The Labor Department reported Wednesday that its producer price index was unchanged last month from May after rising 0.3% the previous month. June wholesale prices rose 2.3% from a year earlier, the smallest year-over-year gain since September. Both measures came in below what economists had expected.
Excluding volatile food and energy prices, so called core producer prices were also unchanged from May and up 2.6% from June 2024.
The report on wholesale inflation arrived a day after the Labor Department reported that consumer prices last month rose 2.7% from June 2024, the biggest year-over-year gain since February, as Trump’s sweeping tariffs pushed up the cost of everything from groceries to appliances.
Consumer prices and producers prices do not always move in tandem, however.