WASHINGTON - Producer prices were flat in August as energy prices declined for the third month in a row, the Labor Department reported Wednesday.
Core producer prices, excluding food and energy costs, edged up 0.1%, the smallest increase since May.
Energy goods declined 1.0% for the month. Prices for gasoline, diesel and liquefied petroleum gas all fell by 1.0% or more.
Economists expected producer prices to be down 0.1% and core prices to increase 0.2%, according to the median estimate from Thomson Reuters.
Producer prices increased 0.2% in July and core prices rose 0.4%.
For the 12 months ending in August, producer prices gained 6.5% and core prices rose 2.5%, the largest increase since June 2009.