The U.S. Labor Department released the producer price data today. The U.S. producer price index rose 0.1% in July, in line with expectations, after a 0.4% gain in June.

On a yearly basis, the U.S. producer price index increased 1.7% in July, missing expectations for a 1.8% gain, after a 0.4% rise in June.

Gasoline prices declined 2.1in July, while food prices rose 0.4% last month.

Prices for services increased 0.1% in July.

The U.S. producer price inflation, excluding food and energy, climbed 0.2% in July, in line with expectations, after a 0.2% rise the previous month.

On a yearly basis, the U.S. producer price index, excluding food and energy, gained 1.6% in July, in line with expectations, after a 1.8% increase in June.