Cargo containers sit stacked on ships at the Port of Los Angeles, the nation’s busiest container port, in San Pedro, California, on Oct. 15, 2021.
Mario Tama | Getty Images News | Getty Images
A measure of wholesale prices rose more than expected in June as Wall Street assesses when the Federal Reserve will feel comfortable cutting interest rates.
The producer price index rose 0.2% last month, the Labor Department’s Bureau of Labor Statistics reported on Friday. Economists surveyed by Dow Jones were expecting a 0.1% increase for the index.
The PPI is a gauge of prices that producers can get for their goods and services in the open market.
The reading is an increase from the May number, which was also revised higher. Friday’s report said that the index was unchanged in May as compared to a decline of 0.2% in the original release.
