price index

Inflation is causing the price of many basic food and household goods to increase; in July, the consumer price index rose by 2.7%, according to the Bureau of Labor Statistics.

That's why there was so much focus on the producer price index, which measures wholesale prices commanded by US producers before they hit consumers, offering a clue to what's coming.

The producer price index, which measures the selling price commanded by US producers, jumped 0.9% from June to July, after being flat the previous month, according to the Labor Department.

Data on Saturday showed China's consumer price index dropped 0.1 percent in April, the third month in a row of decline as consumers hold back from spending and businesses drop prices to compete for customers.

The spike has contributed to an overall rise in grocery prices, which increased half a percent last month, the Labor Department’s consumer price index report released this week found.