Inflation at the wholesale level rose more than expected in July, ending a year-long streak of steady declines in consumer prices.

The Labor Department said Friday that its producer price index, which measures <a href="https://www.foxbusiness.com/category/inflation" target="_blank"><u>inflation at the wholesale level</u></a> before it reaches consumers, climbed 0.3% in July from the previous month. On an annual basis, prices are up 0.8%. It marked the first increase in headline inflation since June 2022.&nbsp;

Those figures are both higher than the 0.7% headline increase and 0.2% monthly figure forecast by Refinitiv economists.

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The U.S. Labor Department said Friday that wholesale inflation, as measured by the producer price index, posted the first increase in 13 months in July.{ai:summary}<p>Wholesale inflation in July surpassed expectations, ending a year-long decline in consumer prices. The producer price index rose by 0.3% from the previous month, bringing annual price growth to 0.8%. This is the first increase in headline inflation since June 2022. #economy</p>

Wholesale inflation accelerates in July for first time in 13 months

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