US Producer Inflation Remains Low in June as Weekly Jobless Claims Decline

US producer prices rose only 0.1% in June, with the annual increase in producer inflation being the smallest in nearly three years, indicating a period of disinflation in the economy. This comes as weekly jobless claims fell by 12,000 to 237,000, suggesting a tight labor market. The softer inflation readings are expected to push the Federal Reserve closer to ending its monetary policy tightening campaign.