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US Producer Prices Exceed Forecast in Biggest Gain Since June

  • Index of wholesale costs rose 0.7% in January on monthly basis
  • Goods prices climbed 1.2%, while measure of services rose 0.4%
Bloomberg business news
US Producer Prices Rise More Than Forecast
Updated on

US producer prices rebounded in January by more than expected, underscoring persistent inflationary pressures that could push the Federal Reserve to pursue further interest-rate increases in the months ahead. 

The producer price index for final demand jumped 0.7% last month, the most since June and bolstered by higher energy costs, according to data out Thursday from the Bureau of Labor Statistics. The PPI climbed 6% from a year earlier.