- REUTERS/Nacho Doce
The producer price index (PPI) for final demand was unchanged in August, according to the Labor Department.
Economists had forecast an increase by 0.1% month-on-month, according to Bloomberg.
Prices for final demand services edged up 0.1% while those for final demand goods fell 0.4%.
Core PPI, which excludes volatile food and energy costs, rose 0.1% month-on-month, matching expectations.
Compared to the same time a year ago, PPI for final demand rose 0.1%, outpacing the flat reading that was anticipated.
Producer prices are used as a forward-looking indicator of consumer-price inflation. The idea is that if wholesale prices are rising, retailers would likely pass these costs on to regular buyers.