January producer prices rose, ending five-month skid

Producer prices rose faster than expected in January, according to a Department of Labor report released today.
FEB 19, 2009
Producer prices rose faster than expected in January, according to a Department of Labor report released today. After falling for five consecutive months, the producer price index rose 0.8% in January. It saw declines of 1.9% in December and 2.5% in November. Core producer prices inched up 0.4% in January, compared with a year ago when the prices rose 4.2%. Meanwhile, energy prices rose 3.7% and gasoline prices increased 15%. Food prices fell 0.4%, driven largely by declines in dairy and meat costs.

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