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Wholesale prices fell 0.3% in June, led by gasoline decline

The 0.3% drop in the wholesale price index surprised expectations, with lower energy costs providing the biggest lift as oil fell amid a brief pause in US-Iran tensions.

Reported · Written up by our desk · Inflation

CNBC Economy reports that wholesale prices unexpectedly declined 0.3% in June, driven largely by a sharp drop in gasoline costs.

The outlet said the decline followed the pattern seen in consumer inflation, as easing energy prices helped bring the measure lower, particularly as oil fell.

CNBC Economy also linked the oil weakness to a brief pause in tensions between the United States and Iran, which reduced upward pressure on energy prices during the period.

Latest closeGasoline (RBOB) $3.215 ▼3.6%

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