Producer Prices Rise, But What's Driving It? The Labor Department reported a 0. 4% increase in producer prices for August, meeting economists' expectations.
However, the underlying factors driving this rise are more complex than initially apparent. Energy prices were the primary contributor to the uptick, surging 4.
2% over last month due to renewed tensions between the US and Iran, which have pushed up oil costs. This is not the only factor at play: wholesale food prices edged up by 0. 1%, after dropping 0. 9% in July.