U.S. July PPI Growth Reaches Highest Level in Three Years

BlockBeats News, August 14th, driven by the surge in service costs, the U.S. Producer Price Index (PPI) in July hit the highest level in three years. A report released by the U.S. Bureau of Labor Statistics on Thursday showed that the PPI rose by 0.9% from the previous month, following no change in June. The index increased by 3.3% from a year earlier. The index excluding food, energy, and trade services rose by 0.6% from June and was up 2.8% from a year earlier. (FX678)