By Ruth Mantell
WASHINGTON (MarketWatch) -- U.S. wholesale prices were unchanged in July, as prices declined for energy, didn't change for food, and rose for goods such as pharmaceuticals, the U.S. Department of Labor reported Wednesday. Meanwhile, the core producer-price index, which excludes food and energy, increased 0.1%. Economists polled by MarketWatch had expected the overall PPI to rise 0.3% in July, and for the core to increase 0.2%. In June, the overall PPI rose 0.8%, while the core PPI rose 0.2%. Wholesale energy prices declined 0.2% in July, led down by residential natural gas. Meanwhile, wholesale pharmaceutical prices rose 1%. Over the past 12 months wholesale prices have increased an unadjusted 2.1%, while core producer prices have gained 1.2%. The report signals that inflation was contained in July.
