Producer prices—the cost of goods and services paid by businesses—came in hotter than expected, suggesting that businesses are persistently experiencing higher costs that could eventually be passed onto consumers.
In June, the Producer Price Index (PPI) rose 0.2 percent, topping the consensus estimate of 0.1 percent. This was up from the flat reading in May, which had been revised higher from negative 0.2 percent, according to the Bureau of Labor Statistics.
