According to the US Department of Labor, producer prices in the country (PPI) in July 2020 rose by 0.6% compared to the previous month. This was the highest growth rate since October 2018. Analysts on average had expected an increase of 0.3%. Such jump in prices is mainly due to the rise in energy costs amid the relaxation of restrictions imposed in connection with the coronavirus pandemic. Compared to July 2019, the PPI index dropped by 0.4%. Experts had forecast a 0.7% decline.
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