Washington, DC, August 17—-Producer prices rose 1% in July due to higher energy and automobile prices, according to a Labor Department report.
The core rate, which excludes food and energy, rose 0.4%.
Economists had expected the producer price index in July to increase 0.5% and the core iindex to increase 0.1%.
The PPI on a year-over-year basis was up 4.6% as compared to an increase of 3.6% a month earlier. On a year-over-year basis, the core PPI is up 2.8%, the highest since November 1995.
Prices of intermediate goods destined for further processing increased 1%, with core intermediate prices falling 0.1%. Prices of crude goods rose 6.7%.
