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The prices paid by customers of businesses in the United States unexpectedly surged in June, undercutting confidence that inflation might be waning.
The prior month’s prices were revised up, erasing what had been shown as a slight decline. According to the revised May PPI, prices were flat in the month instead of declining 0.2 percent. On a 12-month basis, core prices are up three percent, a big jump from the upwardly revised 2.6 percent year-over-year increase in May. The May figure was originally reported as a 2.3 percent increase.
So-called core-core prices, a measure that excludes the often-volatile food and energy prices as well as profit margins at wholesalers and retailers, were unchanged.
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