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Surging gasoline prices boost U.S. producer inflation

Reuters  |  WASHINGTON 

By Lucia MutikaniWASHINGTON (Reuters) - U.S. producer prices rebounded in August, driven by a surge in the cost of gasoline, and there were also signs of a pickup in underlying producer inflation.The Labor Department said on Wednesday its producer price index for final demand increased 0.2 percent last month after slipping 0.1 percent in July. In the 12 months through August, the PPI rose 2.4 percent after advancing 1.9 percent in July. Economists had forecast the PPI gaining 0.3 percent last month and accelerating 2.5 percent from a year ago.A key gauge of underlying producer price pressures ...

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First Published: Wed, September 13 2017. 18:32 IST
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