A worker prepares orders for shipping at la Vie en Rose distribution centre in Montreal, Quebec, on February 27, 2024. Photographer: Graham Hughes/Bloomberg.
U.S. producer prices rose in July by less than forecast, reflecting the first decline in services costs this year amid an ongoing moderation in inflationary pressures.
The producer price index (PPI) for final demand increased 0.1 percent from a month earlier, according to a Bureau of Labor Statistics (BLS) report released Tuesday. The median forecast in a Bloomberg survey of economists called for a 0.2 percent gain. Compared with a year ago, the PPI rose 2.2 percent.
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