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Producer Price Index up 1.7% in August, ex Fd & Engy up 0.2%
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The Producer Price Index for finished goods rose 1.7 percent in August, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This increase followed advances of 0.3 percent in July and 0.1 percent in June, and marks the largest monthly rise since a 1.9-percent increase in June 2009. At the earlier stages of processing, prices received by manufacturers of intermediate goods moved up 1.1 percent in August, and the crude goods index rose 5.8 percent. On an unadjusted basis, prices for finished goods climbed 2.0 percent for the 12 months ended August 2012, the largest advance since a 2.8-percent increase for the 12 months ended March 2012.
In August, over eighty percent of the broad-based rise in finished goods prices is attributable to the index for finished energy goods, which jumped 6.4 percent. Also contributing to the increase in finished goods prices, the index for finished consumer foods climbed 0.9 percent, and prices for finished goods less foods and energy advanced 0.2 percent.
Posted: September 13, 2012 Thursday 08:30 AM