U.S. producer inflation eased in June, offering relief a day after CPI reignited concerns over persistent price pressures, according to Benzinga. Producer prices remained flat in June, down from May's upwardly revised 0.3% increase and below the 0.2% consensus estimate. On an annual basis, the PPI slowed to 2.3%, which is weaker than the expected 2.5% and down from 2.7% in May. Core PPI also showed no monthly growth, with the yearly rate easing to 2.6%. Declines in service prices, hotel rates, and transportation helped offset gains in gasoline, electricity, and communication equipment. The softer print tempered inflation fears and weighed on Treasury yields.
