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US producer prices increase as Harvey boosts gasoline prices

Economists had forecast the PPI gaining 0.4 percent last month and accelerating 2.5 percent from a year ago

Reuters  |  Washington 

US producer prices rose in September as the price of gasoline recorded its biggest increase in more than two years amid production disruptions at oil refineries in Texas caused by Hurricane Harvey. The Labor Department said its producer price index for final demand increased 0.4 percent last month after rising 0.2 percent in August. In the 12 months through September, the PPI jumped 2.6 percent. That was the biggest gain since February 2012 and followed a 2.4 percent jump in August. Wholesale gasoline prices soared 10.9 percent in September after increasing 9.5 percent in August. ...

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First Published: Thu, October 12 2017. 18:45 IST