Wholesale inflation in the U.S. cooled in June, despite concerns that President Donald Trump’s import taxes would drive the prices of goods higher before they reached consumers, the Associated Press reports.
The producer price index, which tracks inflation before it hits consumers, was unchanged last month from May and 2.3% higher than a year earlier, the Labor Department reported Wednesday.
So-called “core” producer prices, which exclude volatile food and energy prices, were also unchanged from May and up 2.6% from a year earlier.
Wholesale prices provide an early look at where consumer inflation might be headed.
