Producer prices climbed 0.2 percent in July, seasonally adjusted, according to the U.S. Bureau of Labor Statistics, attributable to an increase in prices for final demand services, which climbed 0.4 percent. July’s reading marked the third consecutive monthly increase in the index.
Sixty percent of the broad-based price inflation for final demand services could be traced to a 0.4 percent rise in the index for final demand services less trade transportation, and warehousing, while 40 percent of the increase is attributable to increases in prices for guestroom rentals, which rose 9.9 percent.
The index for final demand goods moved down 0.1 percent in July, after rising 0.7 percent in June. The decrease is largely attributable to a 0.6 percent decline in prices for final demand energy, and a 0.1 percent decline in final demand foods. Prices for final demand goods less food and energy were unchanged.
Read the BLS release.
