Wholesale Prices in U.S. Increase on Jump in Energy Costs

Rising U.S. wholesale prices in August reflect the biggest jump in energy costs since January, while underlying inflation remained contained, a Labor Department report showed Wednesday in Washington. About three-fourths of the monthly gain in the headline gauge came from goods, most of which was due to a 9.5 percent jump in gasoline, along with the biggest rise in jet-fuel costs since 2009. Since the PPI pricing date was Aug. 15, the data shouldn’t have captured the effects of Hurricane Harvey, said Scott Sager, a Bureau of Labor Statistics economist.

Source: Bloomberg

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