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Wholesale inflation fell unexpectedly in June as gasoline prices dropped

The 0.3% month to month decline came as energy costs eased, tied to a brief pause in U.S.-Iran tensions that helped push oil lower.

Reported · Written up by our desk · Inflation

Wholesale prices fell unexpectedly in June, according to CNBC Markets, with the 0.3% decline driven by a sharp drop in gasoline costs.

CNBC World said the move mirrored the pattern seen in consumer prices, as easing energy costs pulled the overall index lower.

The outlet also linked the energy decline to a brief pause in tensions between the United States and Iran, which helped oil prices fall.

CNBC Economy added that, just as with consumer inflation, the gasoline and broader energy effect was a key factor behind the unexpected monthly drop.

Latest closeGasoline (RBOB) $3.042 ▼3.9%

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