U.S. producer inflation was unchanged last month as easing energy and food prices helped lower wholesale costs, new government data show.
July’s producer price index came in at zero percent, from an upwardly revised 0.1 percent decline in June, according to the Bureau of Labor Statistics report released on Aug. 13.
Economists had projected a jump of 0.2 percent.
The pipeline inflation indicator measures the prices businesses pay for goods and services and pass on to consumers, signaling what shoppers can expect to experience in the coming months.
On a 12-month basis, producer inflation slowed to a lower-than-expected 4.7 percent, from 5.5 percent in June….