Producer prices fell to 4.7% in July amid inflation concerns

Inflation, as measured by the producer price index, fell eight-tenths of a percentage point to 4.7% for the year ending in July, the Bureau of Labor Statistics reported on Thursday. Economists have been closely examining PPI reports and other inflation reports amid the war with Iran and concerns that the energy price p

U.S. inflation slowed last month and a measure of underlying price pressures also cooled, as higher oil and gas prices had a limited impact on broader costs in the economy.

Inflation ticked down slightly in July, amid the resumption of strikes between the U.S. and Iran. The consumer price index (CPI) increased 0.1 percent last month, according to data released Wednesday by the Bureau of Labor Statistics (BLS). The annual inflation rate declined to 3.4 percent, down from 3.5 percent in Jun

The consumer price index rose 0.1 percent compared with June, the Department of Labor said Wednesday. Compared with a year ago, the consumer price index is up 3.4 percent.