US producer prices rise 0.3% in July

(Sharecast News) - US producer price inflation ticked up in July, the Bureau of Labor Statistics revealed on Friday. Seasonally adjusted figures showed that the producer price index (PPI) increased 0.3% last month, from 0.2% in June.

This acceleration was led by a 0.5% rise for services, tempered by a 0.1% increase in goods.

Stripping out food, energy and trade service, PPI rose 0.2%, the largest increase since February and up from 0.1% the month before.