New Delhi, Aug. 15 -- The Producer Price Index (PPI) in the United States rose to its highest level since 2022, as per the data released by the federal government.
The PPI is released by the US Bureau of Labor Statistics (BLS) and measures the average change over time in selling prices received by domestic producers for their output.
Producer Price Index increased to 0.9 pc in July as per the Labor Department report. Earlier, Dow Jones estimated a rise of 0.2 pc.
This rise is attributed to multiple factors, including a spike in service costs related to trade and services. Moreover, the notable increase in food prices links to the tariff led decisions.
Wholesale prices in the United States also jumped in July, giving the latest signal to...