WASHINGTON, Aug 11 (Reuters) - U.S. producer prices rebounded more than expected in July, but the overall trend in producer inflation remained subdued amid signs the economy’s recovery from the COVID-19 recession was faltering.
The Labor Department said on Tuesday its producer price index for final demand increased 0.6% last month after falling 0.2% in June. In the 12 months through July, the PPI dropped 0.4% after declining 0.8% in June.
Economists polled by Reuters had forecast the PPI rising 0.3% in July and decreasing 0.7% on a year-on-year basis. (Reporting By Lucia Mutikani Editing by Chizu Nomiyama)
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