Newly released federal inflation data shows that the Producer Price Index, a leading marker of inflation, rose last month.
The U.S. Bureau of Labor Statistics released the data, which showed a 0.1 percent increase in July, part of a 2.2 percent increase in the previous 12 months.
Notably, some goods have seen a major increase in the past 12 months, according to the data. Roasted coffee prices have increased 9.1 percent in the last year, dairy product prices rose 9.4 percent, and pork and “processed young chickens” prices rose 12.3 percent and 10.5 percent respectively.
