U.S. wholesale prices fell by 0.2 percent in June as food costs dropped sharply, offsetting a big increase in energy prices. Wholesale prices have fallen in four of the past five months. That downturn, triggered by the coronavirus pandemic, is expected to keep inflation under control. The 0.2 percent drop in wholesale prices in June reflected a 5.2 percent decline in food costs which helped to offset a 7.7 percent jump in energy prices. Over the past year, wholesale prices have fallen 0.8 percent.-AP

Source: The Standard July 10, 2020 13:07 UTC