The Producer Price Index for finished goods rose 1.7 percent in August, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today.
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This increase followed advances of 0.3 percent in July and 0.1 percent in June, and marks the largest monthly rise since a 1.9-percent increase in June 2009.
At the earlier stages of processing, prices received by manufacturers of intermediate goods moved up 1.1 percent in August, and the crude goods index rose 5.8 percent.
On an unadjusted basis, prices for finished goods climbed 2.0 percent for the 12 months ended August 2012, the largest advance since a 2.8-percent increase for the 12 months ended March 2012.
Go here to read the detailed report from the Bureau of Labor Statistics.
Original content Bob DeMarco, All American Investor