U.S. Producer Prices Rise More Than Expected In July

(RTTNews) - Partly reflecting an increase in prices for services, the Labor Department released a report on Friday showing that producer prices in the U.S. rose by slightly more than expected in the month of July.

The Labor Department said its producer price index edged up by 0.2 percent in July after climbing by 0.4 percent in June. Economists had expected the index to inch up by just 0.1 percent.

Excluding food and energy prices, the core producer price index rose by 0.3 percent in July, matching the increase seen in the previous month. Core prices had been expected to tick up by 0.1 percent.