US Producer Prices Rise Higher Than Market Forecast in August

Goods inflation flattens while services inflation increases.

A worker handles 155 mm calibre shells after the manufacturing process at the Scranton Army Ammunition Plant in Scranton, Pa., on April 16, 2024. Charly Triballeau/AFP via Getty Images

The producer price index (PPI)—a gauge of prices businesses pay for goods and services—rose higher than expected, with most of the increase attributed to the final demand for services.

According to the Bureau of Labor Statistics, producer prices jumped by 0.2 percent in August, up from the 0.1 percent increase in July. The market had penciled in an increase of 0.1 percent.