Economic Report: June PPI shows continued muted inflation pressures

Oil storage tanks at Valero Energy’s St. Charles Refinery in Norco, Louisiana. Energy prices fell sharply in June.

The numbers: The producer price index rose a modest 0.1% in June, indicating that inflation remains under wraps. Economists polled by MarketWatch had predicted a 0.1% fall.

The increase in wholesale inflation over the past year inched down to 1.7% in June, the lowest level in more than two years, the government said Friday.

Excluding food, energy and trade margins, the so-called core PPI rate was flat last month after two straight months of 0.4% gains. The yearly rate of increase in core prices decreased to 2.1% from 2.3%.

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