Wholesale prices rose in line with expectations in August, the final inflation data point as the Fed prepares to cut interest rates.
The U.S. Bureau of Labor Statistics said Thursday that the producer price index, a measure of the cost received by producers of final demand goods and services, rose 0.2% this month. This was in line with the Dow Jones consensus forecast.
Excluding food and energy, PPI rose 0.3%, slightly higher than the market consensus of 0.2%. Excluding trade services, core growth was the same.
In other economic news Thursday, the Labor Department said initial jobless claims totaled 230,000 in the week ended Sept. 7, an increase of 2,000 from the previous period and higher than expectations for 225,000.
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