U.S. Producer Prices Unexpectedly Unchanged In July

(RTTNews) - A report released by the Labor Department on Thursday showed producer prices in the U.S. unexpectedly came in flat in the month of July.

The Labor Department said its producer price index for final demand was unchanged in July after edging down by a revised 0.1 percent in June.

Economists had expected producer prices to rise by 0.2 percent compared to the 0.3 percent dip originally reported for the previous month.

The report also said the annual rate of growth by producer prices slowed to 4.7 percent in July from 5.5 percent in June. The annual rate of growth was expected to slow to 4.9 percent.