News Story

U.S. Producer Prices Stagnate in July

- U.S. producer prices were unchanged in July, according to data released on Thursday.

The Labor Department said its producer price index showed no change last month. In the 12 months through July, the PPI rose 3.3%.

Economists had forecast the PPI rising 0.2% last month and increasing 3.4% from a year ago.

The so-called core PPI increased by 0.1% from a month earlier and rose 2.7% in the 12 months through July.

Analysts had predicted core PPI to increase 0.2% month-on-month and 2.8% on an annualized basis.

Core PPI is a key gauge of underlying producer price pressures that excludes food and energy costs.

The Federal Reserve keeps its eye on this data because when producers pay more for goods, they are more likely to pass price increases on to the consumer, so PPI could be considered a leading indicator of inflation.

]]> © Reuters.

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