US producer prices edge down 0.1% in August

US producer prices edge down 0.1% in August

Mubasher: The seasonally adjusted US producer price index (PPI) for final demand dropped by 0.1% in August, official data showed on Wednesday.

Final demand prices kept unchanged in July and added 0.3% in June, according to the US Bureau of Labor Statistics data.

August decline in the final demand index was ascribed to a 0.1% decrease in prices for final demand services, while the index for final demand goods remained unchanged.

Meanwhile, the unadjusted final demand index advanced 2.8% over the 12 months ended August, according to the US Bureau of Labor Statistics data.

Final demand services index went down 0.1% last month, unchanged from a month earlier, driven by a 0.9% decline in the index for final demand.

Similarly, the index for final demand goods excluding foods, energy and trade services, inched up in August for the fourth straight month, encouraged by a 0.4% jump in prices for final demand energy.

By 1:51 pm GMT, the US dollar index inched down 0.12% to 95.135.

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Source: Mubasher

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