U.S. producer prices increased by the most in more than 1-1/2 years in July, but the overall trend in producer inflation remained subdued amid signs the economy's recovery from the COVID-19 recession was faltering.
WASHINGTON - U.S. producer prices increased by the most in more than 1-1/2 years in July, but the overall trend in producer inflation remained subdued amid signs the economy’s recovery from the COVID-19 recession was faltering.
Economists polled by Reuters had forecast the PPI would rise 0.3% in July and decrease 0.7% on a year-on-year basis. U.S. stock index futures were trading mixed. The dollar slipped against a basket of currencies. Prices of U.S. Treasuries were down.
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