U.S. Producer Prices Rose in June
Posted on: Tuesday, 15 July 2008, 18:00 CDT
The U.S. producer price index jumped a seasonally adjusted 1.8 percent in June, the U.S. Labor Department said Tuesday.
The index, following a 1.4 percent gain in May, came in above the consensus expectation of 1.4 percent.
But, core price increases, which exclude food and energy costs, came in under expectations at 0.2 percent, the department said.
Analysts had expected a 0.3 percent increase.
Prices of finished goods for producers rose 1.8 percent, with energy finished good prices climbing 6 percent in the month.
The intermediate goods prices index rose 2.1 percent, a more modest climb compared with May's increase of 2.9 percent. Intermediate energy goods also advanced, climbing 5 percent after a climb of 6.2 percent in May.
Durable goods price increases slowed to 1.7 percent after a May increase of 4.5 percent, the report said.
Crude goods prices rose 3.7 percent after a increase of 6.7 percent in May with prices for crude energy goods rising 5.4 percent after a 13.1 percent rise in May, the report said.
Source: United Press International
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