US producer prices pushed higher by food and transportation
By Alexander Bueso
Date: Monday 01 Nov 2021
(Sharecast News) - US wholesale prices rose as expected last month amid higher prices for food and transportation.
According to the Department of Labor, in seasonally adjusted terms, so-called final demand prices increased at a month-on-month pace of 0.7% in August (consensus: 0.6%).
In comparison to a year ago, they were ahead by 8.3%, as expected.
Versus July, goods prices were 1.0% higher and those for services 0.7% dearer.
Among the former, food prices jumped by 2.9% and those for energy by 0.4%.
In services, trade prices were ahead by 1.5% on the month and those for transportation and warehousing - which include retailers' margins - by 2.8%.
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