US Producer Price Index Rises in July

The United States Producer Price Index (PPI) for final demand experienced a notable increase of 0.9% in July compared to the previous month, as reported by the Bureau of Labor Statistics. This marks the most significant monthly rise since February of the current year.

Yearly and Sector-Specific Increases

On an annual basis, the PPI saw a 3.3% increase. Breaking down the figures, goods prices rose by 0.7%, with food and energy prices increasing by 1.4% and 0.9%, respectively. Services also saw an uptick, advancing by 1.1%, fueled by higher traded prices and a 1% increase in transportation and warehousing.

Core PPI Growth

Excluding food, energy, and trade services, the core PPI grew by 0.6% from the previous month and showed a robust annual increase of 2.8%.