Key contributors to the rise in services include a sharp 4.8% increase in guestroom rental prices. Other significant gains were observed in machinery and vehicle wholesaling, automotive fuels, and real estate loans. In contrast, prices for airline passenger services dropped by 0.8%, alongside declines in food and alcohol retailing.
Final Demand Goods
Prices for final demand goods remained unchanged in August after a 0.6% increase in July. Excluding food and energy, goods prices edged up by 0.2%, while food prices increased slightly by 0.1%. Energy prices fell by 0.9%, largely due to a steep 10.5% drop in jet fuel prices. Offsetting this were higher prices for non-electronic cigarettes, chicken eggs, and pharmaceuticals.
Unemployment Claims Show Slight Increase
Labor market data revealed a modest increase in initial unemployment claims for the week ending September 7, with 230,000…
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