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Producer Price Index Gains 0.4 percent in August, BLS Reports

09/16/2010
The Producer Price Index for finished goods rose 0.4 percent last month, the Bureau of Labor Statistics reports. The gain follows a 0.2 percent rise in July, and a 0.5 percent drop in June. Prices for finished goods rose 3.1 percent for the 12 months ending in August, the tenth consecutive annual rise.

Finished energy goods helped drive the index up. That sector saw a 2.2 percent gain. But prices for finished consumer foods dropped 0.3 percent in August. That loss was attributed to decreased prices for fresh vegetables (excluding potatoes), which declined 11.2 percent.

Intermediate goods accounted for about 85 percent of the total index increase. Intermediate goods prices rose 5 percent in August. Crude materials gained 2.3 percent in August. More than half of that increase was due to crude food and feeds, which climbed 3.5 percent. Nonfood materials excluding energy and crude energy also rose 4.1 percent and 0.5 percent, respectively.

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