The Labor Department reported on Friday the U.S. producer-price index (PPI) edged up 0.1 percent m-o-m in June, the same increase as in May.

For the 12 months through June, the PPI rose 1.7 percent, following a 1.8 percent gain in the previous month. That was the smallest 12-month rise since a 1.7-percent advance in January 2017.

Economists had forecast the headline PPI would be flat m-o-m last month and would increase 1.6 percent over the past 12 months.

According to the report, the June rise in final demand prices is attributable to a 0.4-percent m-o-m advance in the index for final demand services, while prices for final demand goods declined 0.4 percent m-o-m.

Excluding volatile prices for food and energy, the PPI rose 0.2 percent m-o-m and 2.3 percent over 12 months. Economists had forecast gains of 0.2 percent m-o-m and 2.2 percent y-o-y, respectively.