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Expensive gasoline pushes up U.S. producer prices in May

Reuters  |  WASHINGTON 

By Lucia MutikaniWASHINGTON (Reuters) - U.S. producer prices increased more than expected in May, leading to the biggest annual gain in nearly 6-1/2 years, but underlying producer inflation remained moderate.The Labor Department said on Wednesday its producer price index for final demand rose 0.5 percent last month, boosted by a surge in gasoline prices and continued gains in the cost of services. The PPI edged up 0.1 percent in April. In the 12 months through May, the PPI increased 3.1 percent, the largest advance since January 2012. Producer prices rose 2.6 percent year-on-year in April. ...

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First Published: Wed, June 13 2018. 19:03 IST
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