The producer price index, which measures inflation at the wholesale level before it reaches consumers, remains at a multi-decade high, the Labor Department said on Thursday.
Food prices, however, marched higher in July, surging 1% – the fastest increase in four months.
Meanwhile, the services index advanced 0.4% in June, with increases in transportation and warehousing services accounting for about two-thirds of the gain. released Wednesday that showed the consumer price index rose 8.5% in July from a year ago, below the 9.1% year-over-year surge recorded in June. Prices were unchanged in the one-month period from June.Those figures were both lower than the 8.7% headline figure and 0.
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