A slight rise in the producer price index in America

WASHINGTON (Reuters) – Producer prices in the US rose slightly in July for the second consecutive month because of rising energy prices, data from the Labor Department said Friday.

The US Labor Department said in its report that the US wholesale price index rose 0.2% a month last month, after rising 10% a month in May and June.

The rise in the index last month was in line with badysts' estimates.

The Labor Department said that the US producer price index had risen due to the 32% increase in energy prices per month last month, after falling 1 , 3% the previous month.

The basic wholesale price index, which excludes unstable prices for energy and food products, fell 10% a month in July, following a 3.0% rise a month in June , he added.

Analysts were expecting an increase of 2.0% per month.

The unexpected decline in the core index is explained by a 1.0% decline in prices for final demand for services, after rising 4.0% in June.

The US Department of Labor report pointed to a 7.1% increase in last month's wholesale price index compared to the same month last year, the same month. annual inflation rate in June.

Annual core inflation rose from 3.2% in June to 1.2% last month.

The US trade deficit declined slightly in June, along with the decline in exports and imports, suggesting that President Donald Trump's "America First" policy is limiting trade flows.

The Commerce Department said last week that the trade deficit fell 0.3 percent to $ 55.2 billion.