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US monthly producer prices rise in line with expectations in August

Seasonally adjusted producer prices in the U.S. edged up 0.1% month over month in August after gaining 0.2% in the prior month, latest data from the Bureau of Labor Statistics showed.

The latest rate of increase was in line with the Econoday consensus estimate for August.

The index for final demand services advanced 0.3% in August, compared with a 0.1% decline in July. Approximately 80% of the increase in August was attributed to prices for final demand services less trade, transportation, and warehousing, which rose 0.5%.

The index for final demand goods declined 0.5% in August, marking the steepest decline since a 0.6% drop registered in January. The latest drop, which was attributable to a 2.5% fall in the index for final demand energy, compares with a 0.4% rise registered in July.

On an unadjusted basis, the final demand index rose 1.8% for the 12 months that ended in August.