U.S. Producer Prices Rose in August as Energy Costs Shot Up


U.S. Producer Prices Rose in August as Energy Costs Shot Up
  1. U.S. Producer Prices Rose in August as Energy Costs Shot Up
    hamodia.com
    Higher energy costs led to prices at the wholesale level rising in August at the fastest pace in four months. The Labor Department said Wednesday that its producer price index,… Read more » The post U.S. Producer Prices Rose in August as Energy Costs Shot Up appeared first on Hamodia. In related news: U.S. Producer Prices Rose in June at Fastest Pace in 13 Months US Producer Prices Fall in April; Food, Energy Costs Drop Producer Prices Rise 0.3 Percent on Higher Profit…
    Business
(AP Photo/Rich Pedroncelli, File)

WASHINGTON (AP) - Higher energy costs led to prices at the wholesale level rising in August at the fastest pace in four months.

The Labor Department said Wednesday that its producer price index, which measures inflation pressures before they reach the consumer, rose 0.2 percent last month. It was the largest monthly increase since a 0.5 percent gain in April. Inflationary pressures have largely been subdued in recent months. Much of the increase in August came from a 3.3 percent surge in energy costs. Food expenses slipped in August, including a sharp 20.6 percent decline in wheat prices.

The survey was taken before Harvey and Irma struck the southern part of the United States, events that will likely cause prices to further rise in the coming months as the rebuilding process begins. Ian Shepherdson, chief economist at Pantheon Macroeconomics, said he is “braced” for a temporary “spike” in producer prices because of the hurricanes.

Core inflation, which excludes volatile food and energy costs, rose 0.1 percent last month. Over the past 12 months, wholesale prices are up a moderate 2.4 percent while core prices have risen 2.0 percent.

Despite the monthly increase, relatively low inflation has been a constant throughout the recovery from the Great Recession. For the past five years, inflation has stayed below the Federal Reserve’s target of annual price gains of 2 percent. The Fed’s preferred measure of core inflation for consumers has risen just 1.4 percent over the past 12 months.

For producers, food expenses slipped in…

  1. PM: Gov't committed to King's directives when discussing economic reform program

    En.ammonnews.net - Business
    09.20 / 19:09 en.ammonnews.net
    AMMONNEWS - Prime Minister Hani Al Mulki said that government is committed to the directives of His Majesty King Abdullah II the to ensure that implementation of financial reforms next year would not affect middle- and low-income families.During a meeting with representatives of the industrial…
  2. BCG report reveals the six imperatives to empower women leaders of tomorrow in the GCC

    Muscatdaily.com - Business
    09.20 / 16:39 muscatdaily.com
    Gender inequality creates an average global income loss of 13.5 per cent, seen highest in the Middle East and North Africa at 27 per cent in comparison to Europe, evaluated at ten per…
  3. Toshiba Says Sells Chip Unit to Bain Capital for Around $18 Billion

    Naharnet.com - Business
    09.20 / 15:44 naharnet.com
    Toshiba said Wednesday it would sell its memory chip business to a group led by U.S. investor Bain Capital, in a deal worth around $18 billion and seen as crucial to keeping the Japanese conglomerate…
  4. Saudi to Create $2.7 bn Entertainment Investment Firm

    Naharnet.com - Business
    09.20 / 15:32 naharnet.com
    Saudi Arabia's sovereign wealth fund is set to create a $2.7 billion entertainment investment company, state media said Wednesday, as the ultra-conservative kingdom opens up avenues for…
  5. IMF's Lagarde Warns U.S. Won't Meet Growth Targets amid Slow Reforms

    Naharnet.com - Business
    09.20 / 15:32 naharnet.com
    IMF chief Christine Lagarde warned Wednesday that the U.S. will fall short of its ambitious economic growth goals unless it can accelerate promised policy changes, including tax reform. The Trump administration has said it will push US growth to three percent annually -- a rate economists say is unrealistic, given the low U.S. unemployment rate, among other…
  6. Strikes Continue in Effort to Defeat ISIS in Syria, Iraq

    Iraq-businessnews.com - Business
    09.20 / 12:23 iraq-businessnews.com
    U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Monday, conducting 13 strikes consisting of 21 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria In Syria,…
  7. Iran, US align against Iraqi Kurdistan Referendum

    Iraq-businessnews.com - Business
    09.20 / 12:23 iraq-businessnews.com
    By Fazel Hawramy for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Mlitary commanders and diplomats from both Iran and the United States are swarming Iraqi Kurdistan in a last-ditch attempt to convince the Kurds, an important ally in the war against the Islamic State […
  8. Iran, Iraq to Synchronize Power Grids within Months

    Iraq-businessnews.com - Business
    09.20 / 12:23 iraq-businessnews.com
    Iran’s Deputy Energy Minister for Electricity and Energy Affairs Houshang Falahatian (pictured) has stated that the power grids of Iran and Iraq will be interconnected in mid-November 2017. “Iran is ready to take a serious part in reconstruction of the Iraqi electricity grid once terrorists have been eliminated from the area” Falahatian added. He also [R…
  9. ShaMaran starts Drilling at Chiya Khere

    Iraq-businessnews.com - Business
    09.20 / 12:23 iraq-businessnews.com
    ShaMaran Petroleum has announced that drilling operations have commenced on the Chiya Khere (“CK-7”) appraisal and development well in the Atrush Block in the Kurdistan Region of Iraq. CK-7 is located in the central area of the Atrush Block approximately 3 kilometres east of the Atrush 2 producing well and 3.5 kilometres west of the…
  10. $49m Iraq Contract for Trace Systems

    Iraq-businessnews.com - Business
    09.20 / 12:23 iraq-businessnews.com
    By John Lee. Trace Systems Inc., of Vienna, Virginia, has been awarded a $49,392,866 firm-fixed-price foreign military sales (Iraq) contract to support Iraq’s Very Small Aperture Terminal Network. One bid was solicited, with one bid received. Work locations and funding will be determined with each order, with an estimated completion date of Sept. 14, 2022.…
  11. ThyssenKrupp, Tata to Merge European Steel Operations

    Naharnet.com - Business
    09.20 / 07:22 naharnet.com
    German heavy industry giant ThyssenKrupp and Indian group Tata agreed Wednesday to merge their steel operations in Europe, taking second place in the continent's market behind…
  12. Preventing and mitigating ransomware with cyber situational awareness

    Muscatdaily.com - Business
    09.20 / 06:45 muscatdaily.com
    By Alastair Paterson, CEO and Co-Founder of Digital…
  13. Honda Motor Company (Africa and Middle East Office) announces the launch of the All New Honda Odyssey

    Al-press.com - Business
    09.19 / 22:08 al-press.com
    Honda Motor Company announced the launch of the All New 2018 Honda Odyssey for the GCC region at an evening dinner event held at the Ritz Carlton, JBR in Dubai. With over 2.7 million units sold across 4 generations, the Odyssey is one of the most popular MPV’s globally. The fifth generation 2018 Odyssey brings to the GCC region a whole lot of features and worlds first technologies such as CabinWatch, CabinTalk, 10 Speed AT and Magic Slide 2nd row seats.   Read More …
  14. Pieter Bensch takes the helm at Sage Africa & Middle East

    Al-press.com - Business
    09.19 / 22:08 al-press.com
    Sage, the market and technology leader for cloud accounting, people & payroll, and payment systems, today announced that ICT industry veteran, Pieter Bensch, has assumed his new role as the company’s executive vice-president for Africa and Middle East. Read More …
  15. UAE Space Agency to Participate in 68th International Astronautical Congress

    Al-press.com - Business
    09.19 / 22:08 al-press.com
    The UAE Space Agency is to participate in the 68th International Astronautical Congress (IAC), which will take place at the Adelaide Convention Centre in Australia, from 25th to 29th September. The delegation is being led by H.E. Dr. Ahmad Belhoul Al Falasi, Minister of State for Higher Education and Chairman of the UAE Space Agency. Read More…
  16. Dubai Culture Highlights Islamic Design and Architecture at ‘Dubai Next’ Panel Discussion in London

    Al-press.com - Business
    09.19 / 22:08 al-press.com
    Dubai Culture & Arts Authority (Dubai Culture), the Emirate’s dedicated entity for culture, arts and heritage, has successfully concluded its multi-disciplinary panel discussion as part of its programme for the sixth edition of ‘Dubai Next’, which is running from 18th to 20th September in London in support of the 2017 UK/UAE Year of Creative Collaboration and as part of the 15th edition of the London Design Festival. Read More …
  17. Sharjah FDI Forum 2017 Debates the Pros and Cons of The Greatest Industrial Revolution in Modern History

    Al-press.com - Business
    09.19 / 22:08 al-press.com
    Under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Ruler of Sharjah, the first day of the Sharjah FDI Forum 2017 has headlined with an expert panel of internationally renowned business leaders and technology gurus to explore the implications of the Fourth Industrial Revolution (FIR) on future economies and societies – and the impact it will have on investment and innovation as we know it. Read More …
  18. Asian Shares Slip as Investors Await Fed Meeting for Rate Clues

    Hamodia.com - Business
    09.19 / 22:05 hamodia.com
    Asian shares slipped on Tuesday, hobbled by uncertainty as traders awaited a Federal Reserve meeting for clues on U.S. monetary policy, though sentiment was supported by record highs on Wall… Read more » The post Asian Shares Slip as Investors Await Fed Meeting for Rate Clues appeared first on Hamodia. In related news: Asian Shares Rise as Investors Await Yellen Testimony Asian Stocks, Dollar Steady as Investors Await Fed Clues Asian Shares Lower as Investors Await Fed C…
  19. Toys R Us Files for Chapter 11 Reorganization

    Hamodia.com - Business
    09.19 / 22:05 hamodia.com
    Toys R Us, the pioneering big box toy retailer, has announced it has filed for Chapter 11 bankruptcy protection while continuing with normal business operations. A statement by the Wayne,… Read more » The post Toys R Us Files for Chapter 11 Reorganization appeared first on Hamodia. In related news: Quiksilver Files for Chapter 11 Bankruptcy in U.S. Kodak Creditors Support Reorganization Plan Dendreon Files for Chapter 11 Bankruptcy Protection Furniture Brands Files for…
  20. U.S. Housing Starts Fall 0.8 Pct., a 2nd Straight Monthly Drop

    Hamodia.com - Business
    09.19 / 22:05 hamodia.com
    Homebuilders slowed their pace of construction by 0.8 percent in August, the second straight monthly decline. A steep drop in multifamily construction more than offset a slight gain in single-family… Read more » The post U.S. Housing Starts Fall 0.8 Pct., a 2nd Straight Monthly Drop appeared first on Hamodia. In related news: Housing Starts Fall in October, But Building Permits Hit Six-Year High Housing Starts Fell 2.6 Percent in April Housing Starts Jump in Yehudah and…