The producer price index (PPI) rose 0.2 percent last month, according to data released by the government on Friday. This was twice the increase expected by economists.
The prior month’s prices were revised up, erasing what had been shown as a slight decline. According to the revised May PPI, prices were flat in the month instead of declining 0.2 percent.
Compared with a year ago, the PPI is up 2.6 percent. Economists had forecast a 12-month rise of 2.3 percent. The prior month’s year-over-year figure was revised from 2.2 percent to 2.4 percent.
The figures indicate that producer inflation accelerated in June.
Core PPI, which excludes food and energy prices, rose even more, jumped 0.4 percent. That was twice what economists had forecast. The prior month’s estimate was revised up from flat to a 0.3 percent increase.
On a 12-month basis, core prices are up three percent, a…
