PANews reported on August 14th that U.S. producer price inflation (PPI) growth reached its highest level in three years in July, driven by soaring service costs. The Bureau of Labor Statistics reported Thursday that the PPI rose 0.9% from the previous month, following no change in June. The index rose 3.3% year-over-year. Excluding food, energy, and trade services, the index rose 0.6% from June and 2.8% year-over-year.