U.S. wholesale inflation in July came in better than expected

Wholesale prices in the U.S. remained unchanged in July, according to a new report from the U.S. Bureau of Labor Statistics on the PPI (Producer Price Index). Analysts had expected a 0.2% increase, according to CNBC. The core wholesale inflation index, which excludes volatile food and energy prices, rose 0.2%, compared with a consensus forecast of 0.3%.

This data is particularly important because some of the components of the index are used to calculate the Federal Reserve’s preferred measure of inflation—the Personal Consumption Expenditures (PCE) price index— as explained by The Wall Street Journal.

S&P 500 futures rose 0.2% following the release, Nasdaq 100 futures edged lower, and Dow Jones futures rose 0.3%.

This news story is being updated.

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