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US producer price index (PPI) inflation rose 0.8% year-on-year in July, well above the +0.2% increase in July (revised up from the +0.1% initially disclosed).
The growth rate was also higher than the expectations of analysts, who had foreseen an increase, on an annual basis, of +0.7%.
Excluding the energy and food price components, the PPI rose by 2.4% year-on-year, versus +2.3% expected, and at the same pace as in June.
On a monthly basis, the inflation trend measured by the PPI index was an increase of 0.3%, more than the +0.2% estimated by the consensus.
The core component also rose, on a monthly basis, by 0.3%, compared to the +0.2% expected by analysts in this case as well.