Finance News

Wholesale prices rose 0.3% in July, higher than expected

A measure of wholesale prices rose more than expected in July, countering recent trends showing that inflation pressures are easing.

The producer price index, which gauges the costs that goods and services producers receive for their products as opposed to those that consumers pay, rose 0.3% for the month, the Bureau of Labor Statistics reported Friday.

Excluding food and energy, core PPI also increased 0.3%.

Economists surveyed by Dow Jones had been expecting an increase of 0.2% for both readings. Excluding food, energy and trade services, PPI increased 0.2%.

This is breaking news. Please check back here for updates.

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