U.S. Producer Price Inflation Picks Up

Increased 0.6%

Due mostly to higher energy costs, the U.S. producer price inflation rose by more than expected last month mainly due to higher energy costs, the Labor Department said Aug. 14.

Producer price inflation (PPI) ticked up 0.6% in July after declining 0.2% in the prior month. Analysts had only anticipated a 0.1% rise for July.

Core PPI, which strips out volatile energy and food costs, rose 0.1% last month, a notch weaker than expected. The core rate of producer inflation cooled from a 0.3% clip in June.

Copyright Agence France-Presse, 2007

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