US producer prices drop 0.3% from May to June on lower energy prices
WASHINGTON (AP) — U.S. wholesale inflation fell from May to June on plunging energy prices, but intensifying hostilities with Iran are clouding the outlook.
The Labor Department reported Wednesday that its producer price index — which captures inflation before it reaches consumers — dropped 0.3% from May, biggest decline since April 2025 and a reversal from a 0.6% uptick the month before. Compared to a year earlier, wholesale prices were up 5.5% in June, decelerating from a 6% increase the month before. Gasoline prices plunged 12% in June but are still up nearly 43% from June 2025, pushed higher by the Iran war. Food prices also dipped in June.
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