US producer prices up 0.6% in July, biggest jump since 2018
(Visited 1 times, 1 visits today)
Written by • August 11, 2020• 12:43 pm• General News, UK, US, World • Views: 0
WASHINGTON — U.S. wholesale prices shot up an unexpected 0.6% in July, biggest gain since October 2018, with energy prices moving sharply higher.
The Labor Department said Tuesday that the jump last month in its producer price index — which measures inflation before it reaches consumers — followed a 0.2% drop in June. Wholesale energy prices shot up 5.3% in July. Excluding the volatile food and energy prices, producer prices rose 0.5%.
Over the past year, producer prices are down 0.4%, and core prices are up 0.3%. The sharp recession caused by the coronavirus outbreak has constrained inflation.
Paul Wiseman, The Associated Press
January 3, 2023 • Views: 42
Statesman Times is the go-to source for news that matters to you. We provide unbiased and transparent news about world events, United States, and Canada. Our writers are witty and informative, so you can stay up-to-date on the latest news without sacrificing your time.
We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.