Economic Buzz: US producer prices up 0.4% in August

The United States Producer Price Index (PPI), on a seasonally adjusted basis, increased 0.4% in August compared to the previous month, the Bureau of Labor Statistics revealed in its report on Thursday. On an annual basis, producer prices rose by 5.4%.

Prices for final demand goods advanced 1.1%, largely driven by a 4.2% increase in energy prices, while final demand services rose 0.1%, as diesel fuel prices jumped 24.1% during the month.

The PPI excluding food, energy and trade services increased 0.3% month-on-month and 4.7% year-on-year.

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