U.S. suppliers raised prices in July at the slowest annual pace since last fall as energy costs dropped, adding to signs price pressures in the economy have eased slightly.
The producer-price index, which generally reflects supply conditions in the economy, increased by 9.8% annually in July, the smallest annual rise since October 2021’s 8.9% increase, the Labor Department said Thursday. Producer prices climbed 11.3% in June from a year earlier.
