US producer prices picked up in July, primarily due to increases in certain service categories, highlighting the choppy nature of getting inflation back down to target. The producer price index for final demand, as well as the core index which excludes food and energy, both rose by 0.3% in July, according to the Bureau of Labor Statistics. While those came in slightly more than forecast, downward revisions to the prior month tempered some of the strength. Normalising global supply chains, tepid demand abroad, and a broader shift in consumer spending toward services and away from goods have generally helped alleviate inflationary pressures at the producer level over the last year.

http://klse.i3investor.com/web/blog/detail/kianweiaritcles/2023-08-11-story-h-242904744-US_producer_price_inflation_picks_up_on_boost_from_services

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