July 14, 2009

Producer Price Index rises in June

The Producer Price Index for finished goods rose 1.8 percent in June, the third straight month a gain was recorded, the U.S. Labor Department said Tuesday.

The seasonally adjusted June increase in finished goods prices was broadbased, the department's Bureau of Labor Statistics said in a release.

The PPI increase was stronger than forecast and the largest since November 2007, analysts told The Wall Street Journal.

The index for energy goods rose 6.6 percent after advancing 2.9 percent in May. Prices for consumer foods increased 1.1 percent after following a 1.6 percent drop in May.

For non-food and non-energy goods, the index rose 0.5 percent in June after dipping 0.1 percent in the previous month, the BLS said.