US final demand prices edge past forecasts in August

Wholesale prices in the US edged up a bit more than expected in August, bolstered by a sharp increase in those for services, especially trade.

According to the Department of Labor, in seasonally adjusted terms, so-called final demand prices increased at a month-on-month pace of 0.3% (consensus: 0.2%).

Goods prices only rose by 0.1% versus July, and despite declines in the prices of foods and energy, but those for final demand services jumped by 0.5%, with those for trade jumping by 1.2%.

In comparison to a year ago, final demand prices dipped by 0.2% but that too was better than the 0.4% drop that economists had penciled-in.