Largely reflecting a rebound in energy prices, the Labor Department released a report on Friday showing a modest increase in U.S. producer prices in the month of July.
The Labor Department said its producer price index for final demand rose by 0.2 percent in July after inching up by 0.1 percent in both May and June. The uptick in prices matched economist estimates.
Meanwhile, the report said core producer prices, which exclude food and energy prices, edged down by 0.1 percent in July after climbing by 0.3 percent in June.
The modest pullback in core producer prices came as a surprise to economists, who had expected core prices to rise by 0.2 percent.
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