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Energy prices remain elevated, which affects costs of transportation, materials, and power.
The Purchasing Managers’ Index from S&P Global this month shows a booming manufacturing sector, while service industries are stagnating.
And the war in the Middle East is to blame.
New data on producer price inflation, or PPI, will be released on Friday. And while it’s not the inflation that faces consumers, it impacts decisions companies make about raising prices.
Services prices helped push up the producer price index in July. But that increase likely isn’t a lasting one.
The increases are seen as an indicator of strength, though they might fuel more inflation.
