August wholesale inflation rises 0.7%, hotter than expected

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Inflation at the wholesale level rose more than expected in August, countering recent data showing that price increases have tempered lately.

The producer price index, a measure of what producers get for their goods and services, increased a seasonally adjusted 0.7% in August and 1.6% on a year-over-year basis. That monthly gain was above the Dow Jones estimate for a 0.4% increase.

However, excluding food and energy, core PPI increased 0.2%, in line with the estimate.

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