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U.S. Producer Prices Increase In Line With Estimates In August
(RTTNews) - Producer prices in the U.S. increased in line with economist estimates in the month of August, the Labor Department revealed in a report released on Thursday.
The Labor Department said its producer price index for final demand rose by 0.4 percent in August following a revised 0.1 percent uptick in July.
Economists had expected producer prices to climb by 0.4 percent compared to the unchanged reading originally reported for the previous month.
The report also said the annual rate of growth by producer prices surged to 5.4 in August from 4.8 percent in July. The annual rate of growth was expected to accelerate to 5.3 percent.
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