Shares of commodities producers rose as investors focused on the positive economic implications of a resurgence in inflation.
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The consumer-price index grew 0.4% in August from July, the biggest jump since January, the Labor Department said Thursday. While much of those gains were related to a rise in gasoline prices after Hurricane Harvey, the core index, excluding volatile food and energy categories, also had its biggest advance in months. In combination with Wednesday's wholesale inflation data, the data suggest demand for consumer goods and underlying raw materials is rising, assuaging fears of a deflationary recession.
Analysts at brokerage Credit Suisse said recent eurozone industrial production data showed a marked increase in mining and quarrying activity.
Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
September 14, 2017 17:21 ET (21:21 GMT)