US producer prices rise moderately in June
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US producer prices increased moderately in June, with the producer price index for final demand rising 0.2% after being unchanged in May. In the 12 months through June, the PPI increased 2.6% after advancing 2.4% in May. The government reported that consumer prices fell for the first time in four years in June. With the Federal Reserve now wary of labor market weakness, economists and financial markets are increasingly betting on a rate cut in September, with another reduction in borrowing costs expected in December. Fed chair Jerome Powell acknowledged the improving inflation environment but also highlighted the risks to the labor market.

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