Economy

Producer price index August 2020

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A worker assembles footballs at the Wilson Sporting Goods facility in Ada, Ohio, on Thursday, Sept. 3, 2020.

Maddie McGarvey | Bloomberg | Getty Images

U.S. producer prices rose a bit more than expected in August as the cost of services increased solidly, while underlying producer inflation continued to firm.

The producer price index for final demand rose 0.3% last month after surging 0.6% in July, the Labor Department said on Thursday. In the 12 months through August, the PPI fell 0.2% after dropping 0.4% in the 12 months through July.

Economists polled by Reuters had forecast the PPI would gain 0.2% in August and fall 0.3% on a year-on-year basis.

Producer prices were led by a 0.5% increase…



Source cnbc.com

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