The U.S. Bureau of Labor Statistics has released a report showing the second consecutive monthly drop in producer prices, prompted by steadily declining gasoline prices. The Producer Price Index (PPI) shows final demand dropping by 0.1% in August, compared with a 0.4% drop in July. Overall, the latest PPI shows a 1.2% drop in prices for goods. That drop in prices for goods is attributed to continually falling gasoline prices, which have dropped nearly 13%. The national average per gallon of gas on Monday dropped to $3.703, according to AAA , down from $3.959 a month ago, and closing in on the year-ago average of $3.177. Wednesday’s PPI release is contributing to rising optimism that inflation is easing. The index also suggests that some supply chain issues are improving. Reuters cited FWDBONDS chief economist Christopher Rupkey as saying that the PPI release was a “bit of good news that […]