warehouse, wholesale
(New York, NY) – The US Labor Department reports that wholesale inflation was up in July, exceeding the expectations of economists. The PPI rose 0.3% last month, with an increased price of services the biggest contributor. This includes higher transportation costs and increased portfolio management costs.
Labor Department officials also note prices rose in July for food – especially meat – as well as motor vehicles and outpatient care. June’s PPI came in flat, month-over-month. Meanwhile, the CPI rose 3.2% on an annual basis in July – the first such rise in 13 months.
