Producer Price Index Jumps 1.4% In January, Core Prices Rise 0.3%

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With energy prices showing a substantial increase, the Labor Department released a report on Thursday showing that wholesale prices increased by much more than anticipated in the month of January. Core prices also increased by more than expected.

The Labor Department said its producer price index increased by 1.4 percent in January following an unrevised 0.4 percent increase in December. Economists had been expecting a more modest increase of about 0.8 percent.

Excluding food and energy prices, the core producer price index rose by 0.3 percent in January after coming in unchanged in the previous month. The core index has been expected to edge up by 0.1 percent.

With energy prices showing a substantial increase, the Labor Department released a report on Thursday showing that wholesale prices increased by much more than anticipated in the month of January. Core prices also increased by more than expected. (Market News Provided by RTTNews)