US PRODUCER PRICE DATA POINTS TO SUBSIDING INFLATION PRESSURES

U.S. producer prices increased slightly more than expected in June amid a rise in the cost of services, but that did not change expectations that the Federal Reserve could start cutting interest rates in September.

Details of the components in the producer-price, especially healthcare services, that go into the calculation of the key inflation measures tracked by the U.S. central bank for monetary policy were mostly favorable last month.

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