{"id":11349,"date":"2023-08-12T21:51:50","date_gmt":"2023-08-12T21:51:50","guid":{"rendered":"https:\/\/isafespend.com\/news\/wholesale-prices-rose-0-3-in-july-higher-than-expected\/"},"modified":"2023-08-12T21:51:51","modified_gmt":"2023-08-12T21:51:51","slug":"wholesale-prices-rose-0-3-in-july-higher-than-expected","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=11349","title":{"rendered":"Wholesale prices rose 0.3% in July, higher than expected"},"content":{"rendered":"
<\/span><\/p>\n
\n
\n
\n
\n
<\/span><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n

A measure of wholesale prices rose more than expected in July, countering recent trends showing that inflation pressures are easing.<\/p>\n

The producer price index, which gauges the costs that goods and services producers receive for their products as opposed to those that consumers pay, rose 0.3% for the month, the Bureau of Labor Statistics reported Friday. That was the biggest monthly gain since January and up from a unchanged reading in June.<\/p>\n

Excluding food and energy, core PPI also increased 0.3%, the biggest monthly increase since November 2022 after falling 0.1% in June. Core PPI rose 2.4% on a 12-month basis, tied for the lowest since January 2021.<\/p>\n

Economists surveyed by Dow Jones had been expecting an increase of 0.2% for both readings. Excluding food, energy and trade services, PPI increased 0.2%.<\/p>\n

On a year-over-year basis, headline PPI was up just 0.8%. Prices excluding food, energy and trade services moved up by 2.7% on an annual basis, unchanged from June.<\/p>\n

Markets moved lower following the report, with futures tied to the Dow Jones Industrial Average down about 70 points. Treasury yields advanced, with the benchmark 10-year note