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U.S. Producer Prices Climb 0.7 In August, Slightly More Than Expected

September 10, 2021

Producer prices in the U.S. increased by slightly more than expected in the month of August, according to a report released by the Labor Department on Friday.

The Labor Department said its producer price index for final demand climbed by 0.7 percent in August after jumping by 1.0 percent for two straight months. Economists had expected producer prices to increase by 0.6 percent.

The bigger than expected increase in producer prices was partly due to a rebound in food prices, which spiked by 2.9 percent in August after tumbling by 2.1 percent in July.

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