The Producer Price Index (PPI) rose by just 0.1% for the 12 months ended in June.

This is the lowest annual increase in PPI since August 2020.

Economists were expecting an annual increase of 0.4%.

Core PPI, which excludes food and energy, rose 2.4% for the 12 months ended in June.

 This is a step down from the 2.6% increase seen in May.

 Core PPI also increased 0.1% month on month.

The slowdown in PPI is a sign that inflation is starting to cool.

However, inflation is still well above the Federal Reserve's target of 2%.

The Fed is expected to continue raising interest rates in an effort to bring inflation down.

The slowdown in PPI could help to ease some of the concerns about inflation.