Producer prices firm slightly in July

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Producer prices firm slightly in July (by Greg Robb)

WASHINGTON (MarketWatch) - Wholesale prices rose a sharper-than-expected 0.3% in July after seasonable adjustments, with food prices rising 0.5% and energy prices falling 0.4%, the Labor Department reported Tuesday. The producer price index has risen 0.5% in the past year, the government said. This is the lowest annual rate since October 2009. The core PPI - which excludes food and energy prices - rose 0.4% in July, more than expected. Core prices are up 2.5% in the past year, the smallest year-over-year rise since last June. Economists surveyed by MarketWatch expected a 0.2% rise in the headline PPI in July and a 0.2% increase in the core rate. The PPI had risen 0.1% in June, while the core rate was up 0.2%.

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