Producer inflation jumps to four-month high in July
The producer price index accelerated to 1.9% from 0.5% previously
Producer price inflation jumped to a four-month high in July, lifted by food products, beverages and tobacco products.
The producer price index (PPI) accelerated to 1.9% in July from 0.5% previously. Month on month it had increased 1.2%.
The median estimate according to a Bloomberg forecast was for PPI to have increased to 1.3% year on year.
Food products, beverages and tobacco products rose by 3.2% year on year, and transport equipment by 8.3%.
The monthly figure was driven by coke, petroleum, chemical, rubber and plastic products, which rose by 4.8%.
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