US wholesale prices rise 1.8% in August

By Ovunc Kutlu

ISTANBUL (AA) - US wholesale prices increased 1.8% in August, compared to the previous month, according to the Commerce Department's final figures released Tuesday.

The figure was $662.3 billion at the end of August, it said in a statement.

Wholesale prices in August were down 1.7%, compared to the same month last year.

The annual change for July was revised from the preliminary estimate of a 0.8% increase to a 1.2% gain, according to the statement.

Wholesale inventories came in at $900.2 billion at the end of August, which was down 0.1% from the previous month, according to the final results.

The figure, which measures the change in the total value of goods held in inventory by wholesalers, was estimated at $901.2 billion, according to preliminary results released last month.