direct: Producer prices fell in the United States, contrary to expectations during the past month, with the continued decline in demand due to the global epidemic crisis.
The US Statistics Office revealed on Friday that the producer price index in the United States fell 0.2 percent in June, compared to a 0.4 percent rise in May.
Analysts had expected that the US producer price index would rise by 0.4 percent over the past month.
According to the data, commodity production costs increased by 0.2 percent in the past month, compared to a rise of 1.6 percent in the previous month.
While the cost of services decreased by 0.3 percent, compared to a decline of 0.2 percent recorded in May.
The biggest drop in food costs was a decline of 5.2 percent over the past month, while the energy price index rose 7.7 percent during the same period.
As for the prices of American producers during the twelve months ending last month, they recorded a decrease of 0.8 percent, the same percentage recorded in the previous month.
By 12:45 pm GMT, the main dollar index, which measures the currency’s performance against 6 other major currencies, was stable at 96.709.