U.S. suppliers’ price increases picked up in June and remained near historic highs, a sign upward price pressures remain entrenched in the economy.
The Labor Department on Thursday said the producer-price index, which generally reflects supply conditions in the economy, increased by 11.3% on a 12-month basis in June, rising on gains in energy commodities. That marked its seventh consecutive double-digit gain, and compared with a revised 10.9% increase in May, and signaled upward price pressures continue to move through the economy.
