Aug. 14 (UPI) -- The threat of inflation to the U.S. economy may be looming after a Bureau of Labor Statistics report Thursday showed a jump in wholesale prices
The Producer Price Index for final demand rose a seasonally adjusted 0.9% in July, a surge absent in June when such prices stayed flat after having risen only 0.4% in May.
Even more noticeable is the index for the total of final demand prices without adjustment, which saw a 3.3% increase for the 12 months ending in July, the largest 12-month upswing since rising 3.4% in February.
Within the final demand spectrum, three-quarters of the advance comes from the index for final demand services, such as transportation and warehousing, which rose 1.1%, the largest such advance since rising to 1.3% in March of 2022.
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