A report released by the Labor Department on Thursday showed producer prices unexpectedly came in unchanged in the month of July.
The Labor Department said its producer price index was unchanged in July after rising by 0.3 percent in June. Economists had expected producer prices to increase by 0.2 percent.
Excluding food and energy prices, the core producer price index inched up by 0.1 percent in July after climbing by 0.3 percent in the previous month. Core prices had been expected to rise by 0.2 percent.