U.S. Producer Prices Flat In August On Lower Gas Costs

U.S. wholesale prices flattened out in August, held down a sharp decline in gasoline prices. The producer price index was unchanged last month on a seasonally adjusted basis, the Labor Department said Friday. Economists surveyed by MarketWatch had predicted a 0.2% decline. Excluding the volatile categories of food, energy and trade margins, core producer prices edged up 0.1%. The price of goods fell 0.6% while services increased 0.4%. Over the past year overall producer prices have fallen an unadjusted 0.8%, unchanged from July. The core rate has risen 0.7% in the same span, though inflationary pressure in the pipeline remained muted.