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Services, motor vehicles lift U.S. producer prices in June

Reuters  |  WASHINGTON 

By Lucia MutikaniWASHINGTON (Reuters) - U.S. producer prices increased slightly more than expected in June amid gains in the cost of services and motor vehicles, leading to the biggest annual increase in 6-1/2 years.The report published by the Labor Department on Wednesday also showed a pickup in underlying producer inflation last month. The data supports views of steadily rising price pressures, which will probably allow the Federal Reserve to increase interest rates two more times this year.Tariffs imposed by the Trump administration on imports of lumber, steel and aluminum pushed up prices ...

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First Published: Wed, July 11 2018. 20:25 IST
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