U.S. Producer Prices Sag in June

U.S. wholesale inflation unexpectedly fell in June as the economy battles depressed demand amid the COVID-19 pandemic.

Figures released Friday by the U.S. Labor Department its producer price index for final demand dropped 0.2% last month after rebounding 0.4% in May. In the 12 months through June, the PPI declined 0.8% after decreasing 0.8% in May.

Economists had forecast the PPI climbing 0.4% in June and falling 0.2% on a year-on-year basis.