US suppliers’ prices edged up in June and remained near all-time highs, a sign upward price pressure is embroiled in the economy.
The Labor Department said Thursday that the producer-price index, which generally reflects the state of supply in the economy, rose 11.3% on a 12-month basis in June, tracking gains in energy goods. This marked its seventh consecutive double-digit gain, compared to a revised 10.9% increase in May, and indicated that upward price pressure is continuing to push through the economy.