Wholesale prices rose 1.2 percent in July, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported. This increase followed a 1.8-percent jump in June and a 1.4-percent rise in May.
At the earlier stages of processing, prices received by manufacturers of intermediate goods moved up 2.7 percent in July compared with a 2.1-percent gain in the prior month, and the index for crude materials for further processing climbed 4.2 percent subsequent to a 3.7-percent increase in June.
Among prices for finished goods, the index for energy goods rose 3.1 percent in July following a 6.0-percent jump in June. Price increases for finished consumer foods also slowed, from 1.5 percent in June to 0.3 percent in July. By contrast, partially offsetting the deceleration in finished goods prices, the index for finished goods other than foods and energy advanced 0.7 percent after edging up 0.2 percent in June.
Before seasonal adjustment, the Producer Price Index for Finished Goods moved up 1.4 percent in July to 185.0 (1982 = 100). From July 2007 to July 2008, the finished goods index advanced 9.8 percent.
Over the same period, prices for finished energy goods jumped 28.0 percent, the index for finished goods other than foods and energy (core inflation) increased 3.5 percent, and prices for finished consumer foods rose 8.7 percent.
For the 12-month period ended in July, the index for intermediate goods advanced 16.6 percent, and prices received by crude goods producers surged 51.2 percent.
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