WASHINGTON (dpa-AFX) - Producer prices in the U.S. decreased by more than expected in the month of June, according to a report released by the Labor Department on Wednesday.
The Labor Department said its producer price index for final demand fell by 0.3 percent in June after climbing by a downwardly revised 0.6 percent in May.
Economists had expected producer prices to edge down by 0.1 percent compared to the 1.1 percent jump originally reported for the previous month.
The report also said the annual rate of producer price growth slowed to 5.5 percent in June from a downwardly revised 6.0 percent in May.
Economists had expected the annual rate of producer price growth to slow to 6.2 percent from the 6.5 percent originally reported for the previous month.
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