US wholesale prices rise in June
Washington: US wholesale prices rose slightly in June after a consecutive decline from March through May.
The Producer Price Index, which measures price changes at factory gates, increased 0.1 percent on seasonally adjusted basis, as higher food costs were partly offset by a drop in energy prices, reported Xinhua citing the Labor Department.
Energy prices dipped 0.9 percent in June, the fourth straight decline. Food costs moved up 0.5 percent in June, the largest increase since November 2011.
Excluding the volatile food and energy sectors, the so-called "core" wholesale prices rose 0.2 percent in June from the previous month.
The wholesale prices rose 0.7 percent over the past 12 months ending June, the same rate as in May.
The Federal Reserve officials said in its June policy meeting that inflation declined recently, mainly reflecting the reductions in oil prices, and the long-run inflation expectations continued to be stable.
More from India
More from World
More from Sports
More from Entertaiment
- Cortana for Android available for public beta in US
- Xiaomi Redmi 2 Vs Redmi 2 Prime: Specification comparisons
- Middle class woes to continue, wholesale onion price shoots up to Rs 57 per kg
- Alleged land encroachment in Greater Noida: HC asks DM to decide representation in 3 months
- Watch: Review of Mahindra TUV300