US Producer Price Index for Final Demand Unchanged in July; Services Rise 0.2%, Goods Fall 0.7%

The U.S. Bureau of Labor Statistics reported that the Producer Price Index for final demand was unchanged in July, seasonally adjusted. Final demand services advanced 0.2%, while final demand goods fell 0.7%, largely due to a 3.1% decline in final demand energy prices, particularly gasoline. Prices for final demand less foods, energy, and trade services rose 0.4% in July, advancing 4.7% over the 12 months ended in July.