U.S. producer prices rose for a third straight month in July, but inflation pressures remain benign against the backdrop of lower oil prices and a strong dollar.
The Labor Department said on Friday its producer price index for final demand increased 0.2 percent last month after increasing 0.4 percent in June.
An increase of 0.4 percent in services prices, which offset a fall of 0.1 percent in the cost of goods, accounted for the increase in the PPI last month.
In the 12 months through July, the PPI fell 0.8 percent after declining 0.7 percent in June. It was the sixth straight 12-month decrease in the index.