(MarketWatch) U.S. producer prices jumped 0.5% in June — the biggest increase in more than a year — largely owing to higher oil prices and margins for financial services. Yet inflation overall remains muted, a government report shows.
Economists surveyed by MarketWatch had predicted a 0.2% increase in the producer price index.
Wholesale prices, though often quite volatile, have been rising in 2016 after declining for much of the prior two years. In the past 12 months, the producer price index has advanced 0.3%, the first year-over-year increase since the end of 2014, the Labor Department said.
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