US PPI up 5.5 percent in June

The U.S. Producer Price Index (PPI) rose 5.5 percent year on year in June, lower than market expectations, according to data released by the U.S. Bureau of Labor Statistics on Wednesday.

On a monthly basis, the seasonally adjusted PPI for June edged down 0.3 percent, which was also below prior market forecasts.

The core PPI, excluding volatile food, energy and trade services sectors, increased by 5.1 percent compared with the same period last year, and ticked up 0.1 percent from the previous month.

Analysts noted that the decline in energy and food prices in June helped alleviate inflationary pressures to some extent, as the latest data have further dampened market expectations for a Federal Reserve interest rate hike in July.

US PPI up 5.5 percent in June

The United States' military completed its latest wave of strikes against Iran at 21:00 (Eastern Time) on Wednesday, the U.S. Central Command said in a statement.

In the statement posted on social media, the command said it had struck Iranian command centers, air defense sites, missile and drone capabilities, and coastal surveillance facilities.

Precision munitions were used to hit targets in multiple locations including Bandar Abbas, said the command.

Earlier in the day, the U.S. forces also launched strikes against Iran's coastal defense facilities and cruise missile sites on Greater Tunb Island, with the operation lasting 90 minutes, according to the command.

US ends latest wave of strikes on Iran: central command