U.S. producer prices rose for a third straight month in July, but inflation pressures remain benign against the backdrop of lower oil prices and a strong dollar.
The U.S. Labor Department said on Friday its producer price index for final demand increased 0.2%last month after increasing 0.4% in June.
An increase of 0.4% in services prices, which offset a fall of 0.1% in the cost of goods, accounted for the increase in the PPI last month.
In the 12 months through July, the PPI fell 0.8% after declining 0.7% in June. It was the sixth straight 12-month decrease in the index.
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