Wholesale prices rose 0.2% in August, in line with expectations

Wholesale prices rose in August about in line with expectations, the final inflation data point as the Federal Reserve gets set to lower interest rates.

The producer price index, a measure of final demand goods and services costs that producers receive, increased 0.2% on the month, the Bureau of Labor Statistics said Thursday. That matched the Dow Jones consensus estimate.

Excluding food and energy, PPI increased 0.3%, slightly hotter than the 0.2% consensus estimate. The core increase was the same when excluding trade services.

In other economic news Thursday, the Labor Department said initial filings for unemployment benefits totaled 230,000 for the week ending Sept. 7, up 2,000 from the previous period and higher than the 225,000 estimate.

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