Energy Costs Push Producer Prices Higher

Reuters

U.S. producer prices rose 0.8% in January in line with expectations on a rise in energy prices, a Labor Department report showed Wednesday.

Producer prices rose 3.6% over the last 12 months, slightly more than the 3.5% gain expected by analysts polled by Reuters.

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Core producer prices rose a larger-than-expected 0.5% on a jump in pharmaceutical preparations and plastic products. Analysts had forecast a 0.2% gain.

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