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U.S. producer prices unexpectedly fall in June

Jaeden Milam makes clear acrylic safety shield dividers on a computer-controlled cutting machine at Screaming Images amid the spread of the coronavirus on May 18, 2020 in Las Vegas, Nevada.

Ethan Miller | Getty Images

U.S. producer prices unexpectedly fell in June as the economy battles depressed demand amid the Covid-19 pandemic.

The Labor Department said on Friday its producer price index for final demand dropped 0.2% last month after rebounding 0.4% in May. In the 12 months through June, the PPI declined 0.8% after decreasing 0.8% in May.

Economists polled by Reuters had forecast the PPI climbing 0.4% in June and falling 0.2% on a year-on-year basis.

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