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Producer Prices Unexpectedly Fall as Energy Costs Plunge

Posted on AllSides June 13th, 2024
From The Right

Latest producer price index comes after drop in annual inflation rate. Producer prices—the cost of goods and services paid by businesses—fell in May, suggesting inflationary pressures might be easing and the Federal Reserve’s fight to restore price stability has garnered momentum. On an annual basis, the PPI eased to a lower-than-expected 2.2 percent, from 2.3 percent. Goods inflation in May slowed by 0.8 percent, while prices for final demand services were flat. Leading the PPI decline was energy, tumbling nearly 5 percent. “Nearly 60 percent of the May decrease in...

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https://theepochtimes.com/business/producer-prices-unexpectedly-fall-as-energy-costs-plunge-5668156

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