US producer prices pushed higher by 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%.