US Producer Prices Stagnated on Decline in Services Costs

US wholesale inflation moderated in June as a sharp decline in the costs of travel-related services blunted a pickup in goods prices.

The producer price index was unchanged from a month earlier, after an upwardly revised 0.3% gain in May, according to a Bureau of Labor Statistics report released Wednesday. US wholesale prices rose 2.3% from a year earlier, the least since September.

Excluding food, energy and trade services, the PPI was also flat. It increased 2.5% from June of last year — the smallest annual advance since late 2023.

The PPI report follows June consumer price data that ...