KONTAN.CO.ID - WASHINGTON. U.S. producer prices increased slightly more than expected in July as the cost of services rebounded at the fastest pace in nearly a year, but the trend remained consistent with a moderation in inflationary pressures. The producer price index for final demand rose 0.3% last month, the Labor Department said on Friday. Data for June was revised lower to show the PPI unchanged instead of nudging up by the previously reported 0.1%. In the 12 months through July, the PPI increased 0.8% after gaining 0.2% in June, boosted by a lower base of comparison last year. Economists polled by Reuters had forecast the PPI would climb 0.2% on the month and advance 0.7% on a year-on-year basis.
Strong Services Drive US Producer Prices Higher in July
KONTAN.CO.ID - WASHINGTON. U.S. producer prices increased slightly more than expected in July as the cost of services rebounded at the fastest pace in nearly a year, but the trend remained consistent with a moderation in inflationary pressures. The producer price index for final demand rose 0.3% last month, the Labor Department said on Friday. Data for June was revised lower to show the PPI unchanged instead of nudging up by the previously reported 0.1%. In the 12 months through July, the PPI increased 0.8% after gaining 0.2% in June, boosted by a lower base of comparison last year. Economists polled by Reuters had forecast the PPI would climb 0.2% on the month and advance 0.7% on a year-on-year basis.