By Mucahithan Avcioglu
ISTANBUL (AA) - Producer prices in the US rose 3.3% on a yearly basis in July, above market expectations of 2.5%, official figures showed on Thursday.
This was the largest 12-month increase since February 2025, when it rose 3.4%, the Bureau of Labor Statistics said.
On a monthly basis, producer inflation was at 0.9% in July, also exceeding forecasts of a 0.2% rise.
Prices for final demand goods rose 0.7% in July, the largest gain since rising 0.7% in January, the bureau said.
Services' prices rose 1.1% in July, the largest advance since rising 1.3% in March 2022.
"The index for final demand less foods, energy, and trade services moved up 0.6% in July, the largest increase since rising 0.9% in March 2022. For the 12 months ended in July, prices for final demand less foods, energy, and trade services advanced 2.8%," it said.
A quarter of the July rise in the producer prices for final demand goods can be traced to prices for fresh and dry vegetables, which increased 38.9%.
"The indexes for meats, diesel fuel, jet fuel, nonferrous scrap, and eggs for fresh use also rose. Conversely, prices for gasoline decreased 1.8%. The indexes for canned, cooked, smoked, or prepared poultry and for plastic resins and materials also declined," it added.