Inflation Cools in June

Like the weather, inflation was cooler than expected in June.

The government Thursday said the producer price index, or inflation at the wholesale level, fell 0.3%, exactly what economists were not expecting and a stunning reversal from a 0.8% jump in May. The consensus forecast was for a 0.2% gain.

Core prices, which exclude energy and food costs, rose as expected, gaining 0.2%, a slight improvement from May's 0.3% rate. ...