U.S. Producer Prices Index Drops On Lower Gasoline Prices ...Middle East

Economy by : (OILPRICE) -
The U.S. Bureau of Labor Statistics has released a report showing the second consecutive monthly drop in producer prices, prompted by steadily declining gasoline prices.  The Producer Price Index (PPI) shows final demand dropping by 0.1% in August, compared with a 0.4% drop in July.  Overall, the latest PPI shows a 1.2% drop in prices for goods.  That drop in prices for goods is attributed to continually falling gasoline prices, which have dropped nearly 13%.  The national average per gallon of gas on Monday dropped to $3.703,…

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