-
U.S. producer prices fall for first time since early in pandemic
A key measure of U.S. producer prices unexpectedly fell in July for the first time in more than two years, largely reflecting a drop in energy costs and representing a welcome moderation in inflationary pressures. The producer price index for final demand decreased 0.5 per cent from a month earlier and rose 9.8 per cent from a year ago, Labor Department data showed Thursday. The pullback was due to a decline in the costs of goods, though services prices only edged up. Excluding the volatile food and energy components, the so-called core PPI rose 0.2 per cent from June and 7.6 per cent from a year earlier. Both the ... (full story)