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The U.S. Commerce Department released the producer price index figures on Friday. The U.S. producer price index was flat in August, beating expectations for a 0.1% decline, after a 0.2% rise in July.
On a yearly basis, the producer price index decreased 0.8% in August, beating forecasts of a 0.9% decline, after a 0.8% fall in July.
A stronger U.S. dollar and low oil prices still weigh on inflation.
Services prices were up 0.4% in August, while prices for goods declined 0.6%.
Food prices increased by 0.3% in August, driven by a rise in wholesale egg prices, which jumped 23.2%.
Energy sales declined 3.3% in August.
The producer price index excluding food and energy climbed 0.3% in August, exceeding expectations for a 0.1% gain, after a 0.3% increase in July.
On a yearly basis, the producer price index excluding food and energy climbed 0.9% in August, beating forecasts of a 0.7% increase, after a 0.6% rise in July.