2020.08.1112:37:00UTC+00U.S. Producer Prices Climb More Than Expected In July

Partly reflecting a notable increase in prices for services, the Labor Department released a report on Tuesday showing U.S. producer prices climbed by more than expected in the month of July.

The Labor Department said its producer price index for final demand rose by 0.6 percent in July after dipping by 0.2 percent in June.

The rebound in producer prices reflected the largest increase since October of 2018 and exceeded economist estimates for an uptick of 0.3 percent.

Excluding food and energy prices, core producer prices still climbed by 0.5 percent in July after falling by 0.3 percent in June. Economists had expected core prices to inch up by 0.1 percent.