By Geoffrey Smith
Investing.com — Factory gate prices stayed strong in August, corroborating a picture of unbroken and broadening inflationary pressure in the U.S. economy.
The dipped 0.1% on the month from July, thanks to cheaper gasoline prices reducing freight costs, but less volatile elements of the index rose, pushing the ” price index up 0.4%, more than expected. Excluding food, energy and transportation, prices rose 0.2%.
The numbers reflect the same trend as those seen in Tuesday’s report, which also showed headline inflation easing, despite signs of prices broadly rising throughout the economy.
Nonetheless, there were further signs that the peak in annual inflation may already have passed, with the rising only 7.3% from a year earlier, down from 7.7% in July. The likewise eased to 8.7% from 9.8%.