Wholesale Prices in U.S. Rise Most in Three Years on Oil

Wholesale prices in the U.S. increased in August by the most in more than three years, reflecting a surge in energy costs.

The producer price index climbed 1.7 percent after an increase of 0.3 percent in July, the Labor Department reported today in Washington. The median estimate in a Bloomberg survey of 79 economists called for a 1.2 percent gain. Core wholesale inflation, which excludes volatile food and energy prices, rose 0.2 percent, in line with forecasts.