Inflation & Prices
US Producer-Price Inflation Picks Up on Boost From Services
- Portfolio management prices accounted for 40% of services jump
- Downward revisions to June figures tempered increases
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US producer prices picked up in July, primarily due to increases in certain service categories, highlighting the choppy nature of getting inflation back down to target.
The producer price index for final demand, as well as the core index which excludes food and energy, both rose by 0.3% in July, according to the Bureau of Labor Statistics. While those came in slightly more than forecast, downward revisions to the prior month tempered some of the strength.