U.S. producer prices unexpectedly fall in June
U.S. producer prices unexpectedly fell in June as depressed demand amid the Covid-19 pandemic battled the economy.
The Labor Department said its producer price index for final demand dropped 0.2% last month after rebounding 0.4% in May, Reuters reported. In the 12 months through June, the PPI declined 0.8% after decreasing 0.8% in May.
Economists polled by Reuters had forecast the PPI climbing 0.4% in June and falling 0.2% on a year-on-year basis. —Melodie Warner
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