US producer prices pushed higher by food and transportation

US wholesale prices rose as expected last month amid higher prices for food and transportation.

According to the Department of Labor, in seasonally adjusted terms, so-called final demand prices increased at a month-on-month pace of 0.7% in August (consensus: 0.6%).

In comparison to a year ago, they were ahead by 8.3%, as expected.

Versus July, goods prices were 1.0% higher and those for services 0.7% dearer.

Among the former, food prices jumped by 2.9% and those for energy by 0.4%.

In services, trade prices were ahead by 1.5% on the month and those for transportation and warehousing - which include retailers' margins - by 2.8%.