Producer Price Index increases 1.7% in August

According to the Thursday, September 13th, 8:30 A.M. release by the Bureau of Labor Statistics, the Producer Price Index for finished goods increased 1.7% in August 2012.

The Bureau further reported that August’s rise follows a .3% increase in July and a .1% increase in June.   The bureau further reported that this marks the largest single month’s increase since a 1.9% increase in June 2009.

The consumer price index for Crude materials for further processing jumped 5.8% in August.   Prices for crude energy goods moved up 4.7%.   The bureau reported that the rise  was most notably attributed to crude petroleum prices, which rose 12.8%.   The consumer price index for crude foodstuffs and feedstuffs increased 4.6% in August.

The Bureau reported that the CPI, Consumer Price Index for crude non food materials less energy increased 2.2% in August.