People shop at a Manhattan retail store on July 15, 2025 in New York City.
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A measure of wholesale prices showed no change in June, providing a conflicting sign over whether tariffs threaten to boost inflation in the coming months.
The producer price index was flat, according to seasonally adjusted numbers from the Bureau of Labor Statistics reported Wednesday. Economists surveyed by Dow Jones had been looking for an increase of 0.2%.
The same was true for core PPI, which also was expected to show a 0.2% increase.
Combined with Tuesday’s consumer price index release, the data suggests that President Donald Trump’s tariffs are indicating only a marginal bite on the U.S. economy and the prices for goods and services.
Though the numbers for headline and core wholesale inflation were subdued, final demand goods prices rose 0.3%, though they were offset by a 0.1% fall in services. Within the goods category, tariff-sensitive communication equipment posted a gain of 0.8%. Core goods prices also rose 0.3%.
At the same time, the PPI level for May, initially reported as a 0.1% increase, saw an upward revision to a 0.3% gain, the biggest gain since February, the BLS reported.
On a year-over-year basis, headline PPI was up 2.3%, compared to 2.7% in May.
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