US producer prices unexpectedly fall in June
U.S. producer prices fell 0.3% in June, indicating a retreat in inflation, according to the Labor Department's Bureau of Labor Statistics. This decline follows a 0.6% increase in May and contrasts with economists' expectations of no change. The drop in prices was primarily driven by a 1.4% decrease in goods prices, particularly a 6.4% fall in energy costs, amid escalating tensions in the Middle East.