Wednesday, August 17, 2011

Producer Prices Rose by 0.2 Percent in July

The Bureau of Labor Statistics reported that producer prices rose in July after falling in June.

The Producer Price Index (PPI) for finished goods rose 0.2% in July, seasonally adjusted. This advance followed a 0.4% decrease in June and a 0.2% rise in May.
On an unadjusted basis, prices for finished goods moved up 7.2% for
the 12 months ended July 2011.

Core PPI (minus food and energy) increased by 0.4% in July. Prices for finished energy goods fell for the second consecutive month -- declining 0.6% in July after declining 2.8% in June. Food prices rose 0.6% in July. Nearly one-quarter of the July advance can be attributed to a 2.8% increase in prices for tobacco products.

Read the press release.

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