CNN —
US wholesale inflation was muted in June, presenting what would seem to be a better-than-expected outcome amid President Donald Trump’s hefty tariffs on global trading partners. However, a steep drop-off in travel and other services camouflaged an increase in the cost of goods.
The Producer Price Index, which measures the average change in prices paid to producers, was unchanged from May, and the annual rate of wholesale-level inflation slowed 2.3%, staying lower in part because of base effects (as the year-ago period experienced higher inflation).
“Tariffs are raising prices of
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