Prices at the wholesale level jumped twice the Dow Jones estimated level in January, the Labor Department said Tuesday.
The producer price index, which measures final-demand goods and services, increased 1% for the month, against the Dow Jones estimate for 0.5%. Over the past 12 months, the gauge rose an unadjusted 9.7%, close to a record in data going back to 2010.
Excluding food, energy and trade services, so-called core PPI increased 0.9% for the month, well ahead of the 0.4% estimate. For the 12-month period, the measure increased 6.9%. Both core and headline PPI gains over the year were 0.1 percentage point lower than the record levels hit in December 2021.
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