U.S. producer price index unchanged in July

The producer price index was flat in July, the Labor Department reported Thursday. That was below the MarketWatch forecast of a 0.2% gain. Another measure preferred by economists, known as core PPI, rose 0.3% for the second straight month. The core rate strips out food, energy and trade margins. The flat PPI reading pulled the 12-month rate of wholesale inflation down to 3.3% from 3.4%. The 12-month rate of core PPI advanced to 2.8% in July, the highest since March.