US wholesale prices go up

Washington, July 13 (IANS) US wholesale prices continued to rise in June for the second consecutive month, largely due to increases of energy prices, the US Labor Department reported.

The Producer Price Index (PPI), which measures price changes at factory gates, rose 0.8 percent last month on seasonally adjusted basis, reported Xinhua.

Energy prices went up 2.9 percent last month after rising 1.3 percent in May. Meanwhile, food costs edged up 0.2 percent last month after gaining 0.6 percent in May.

Excluding the volatile food and energy sectors, the so-called "core" wholesale prices ticked up 0.2 percent last month from May, which indicated the general inflation pressure is still tamed.

The wholesale prices rose 2.5 percent over the past 12 months ending June.


Get stories like this on the Yahoo app and discover more every day.
Download it now.