Producer Prices Unexpectedly Fall as Energy Costs Plunge

Published on June 14, 2024

Producer prices—the cost of goods and services paid by businesses—fell in May, suggesting inflationary pressures might be easing and the Federal Reserve’s fight to restore price stability has garnered momentum. The producer price index (PPI) declined 0.2 percent last month, down from 0.5 percent in April and below the consensus estimate of 0.1 percent, according to the Bureau of Labor Statistics (BLS). The slowdown follows three straight months of accelerating PPI inflation. On an annual basis, the PPI eased to a lower-than-expected 2.2 percent, from 2.3 percent. Goods inflation in May slowed by 0.8 percent, while prices for final demand services were flat. Leading the PPI decline was energy, tumbling nearly 5 percent....

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House Committee Questions Microsoft President Over Security ‘Shortfalls’ After China-Linked Hack

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Firefighters Battle Big Blaze at Athens Cookware Factory

June 14, 2024
ATHENS—Dozens of firefighters were battling a blaze at a cookware factory in Athens on Wednesday that sent thick plumes of black smoke into the air, the fire service said.The cause of the fire shortly after 3:30 pm was not immediately known, but state broadcaster ERT reported there had been an explosion.There were no reports of people trapped inside the factory in the suburb of Kifisia, a spokespe