Washington : US wholesale prices posted a big monthly gain in September due to a spike in energy price, US Labor Department reported.
The Producer Price Index (PPI), which measures price changes at factory gates, rose 1.1 percent in September on seasonally adjusted basis, mainly boosted by higher energy prices. The PPI jumped 1.7 percent in August, reported Xinhua.
Energy prices surged 4.7 percent last month, after a sharp increase of 6.4 percent in August. Food costs edged up 0.2 percent in September, after gaining 0.9 percent in August.
Excluding the volatile food and energy sectors, the so-called “core” wholesale prices remained flat in September from the previous month.
The wholesale prices rose 2.1 percent over the past 12 months ending September.