Producer prices flat in July

WASHINGTON, Aug. 14 (UPI) -- The U.S. Producer Price Index for finished goods was flat in July with food prices unchanged, the Bureau of Labor Statistics reported Wednesday.

Prices for finished energy items fell 0.2 percent in the month, which dropped the prices paid for core items -- a category that excludes food and energy -- with a 0.1 percent gain in July.

Prices for goods in the intermediate stage of production were also flat while prices for raw materials rose 1.2 percent, the bureau said.

On an unadjusted annual basis, the producer price index was 2.1 percent higher in July, short of the 2.3 percent economists had predicted.