Economics
U.S. Producer Prices Increased in August by More Than Forecast
- Overall PPI advanced 0.7% from prior month, 8.3% from year ago
- Meats, natural gas, cars, beauty retailing among notable gains
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Prices paid to U.S. producers increased in August by more than forecast as persistent supply chain disruptions squeeze production costs higher.
The producer price index for final demand increased 0.7% from the prior month and 8.3% from a year ago, a fresh series high, Labor Department data showed Friday. Excluding the volatile food and energy components, the so-called core PPI advanced 0.6%, and was up 6.7% from August of last year.