Wholesale prices in the U.S. rose by more than projected in September, helped by higher costs for energy and food and indicating inflation may be picking up.
The producer-price index increased 0.3 percent, the first gain in three months, after being little changed in August, a Labor Department report showed Friday. The median forecast of economists surveyed by Bloomberg called for a 0.2 percent gain.
More stable commodity costs and a diminishing effect from last year’s surge in the dollar are allowing for more price pressures in the production pipeline. Federal Reserve officials are watching for consumer inflation to make sustained progress toward their 2 percent annual target as they consider raising interest rates by year-end.
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