Investing.com - Producer price inflation in the U.S. rose more-than-expected in August, while core prices increased in line with expectations, official data showed on Thursday.
In a report, the Bureau of Labor Statistics said that producer prices rose by a seasonally adjusted 1.7% in August, compared to expectations for a 1.1% increase, after rising 0.3% in July.
Year-over-year, the producer price index rose at an annualized rate of 2.0% last month, above expectations for a gain of 1.4%. PPI rose at an annualized rate of 0.5% in July.
The core producer price index rose 0.2% in August, in line with expectations, after rising 0.4% in July.
Core produces prices rose at an annualized rate of 2.5% last month, unchanged from the previous month. Analysts had expected core prices to increase at a rate of 2.6% in August.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.07% to trade at 1.2908.
Meanwhile, U.S. stock index futures held on to losses. The Dow Jones Industrial Average futures pointed to a loss of 0.2% at the open, S&P 500 futures indicated a decline of 0.2%, while the Nasdaq 100 futures signaled a 0.25% drop.
In a report, the Bureau of Labor Statistics said that producer prices rose by a seasonally adjusted 1.7% in August, compared to expectations for a 1.1% increase, after rising 0.3% in July.
Year-over-year, the producer price index rose at an annualized rate of 2.0% last month, above expectations for a gain of 1.4%. PPI rose at an annualized rate of 0.5% in July.
The core producer price index rose 0.2% in August, in line with expectations, after rising 0.4% in July.
Core produces prices rose at an annualized rate of 2.5% last month, unchanged from the previous month. Analysts had expected core prices to increase at a rate of 2.6% in August.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.07% to trade at 1.2908.
Meanwhile, U.S. stock index futures held on to losses. The Dow Jones Industrial Average futures pointed to a loss of 0.2% at the open, S&P 500 futures indicated a decline of 0.2%, while the Nasdaq 100 futures signaled a 0.25% drop.