A measure of wholesale prices showed no change in June, giving mixed signals about whether tariffs will push up inflation in the coming months.
The Producer Price Index (PPI) remained flat, according to seasonally adjusted data reported by the Bureau of Labor Statistics (BLS) on Wednesday. Economists polled by Dow Jones had previously expected a 0.2% increase.
The same was true for the core PPI, which was also expected to rise 0.2%, but also posted no change.
Combined with Tuesday’s Consumer Price Index (CPI) report, the data suggests that President Donald Trump’s tariffs have had little impact on the U.S. economy and the prices of goods and services so far.
While headline and core wholesale inflation figures appear subdued, with final prices for goods rising 0.3%, this increase was offset by a 0.1% decline in services prices. Within the goods category, tariff-sensitive communications equipment rose 0.8%. Core goods prices also rose 0.3%.
At the same time, the PPI figure for May, previously reported to have risen 0.1%, was revised up to 0.3%, the highest increase since February, according to the BLS.
On an annualized basis, the core PPI rose 2.3%, compared with 2.7% in May.
