Economic Report: Higher gas prices boost wholesale inflation

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Higher gas prices toward the end of summer pushed up wholesale inflation, but price increases for most goods and services remained mild.

WASHINGTON (MarketWatch) — U.S. inflation at the wholesale level rebounded toward the end of summer, but most of the increase reflected higher gasoline prices.

The producer price index rose 0.2% last month, the government said Wednesday. Economists surveyed by MarketWatch had forecast a 0.3% increase in wholesale inflation after a small decline in July.

A nearly 10% jump in the cost of gas accounted for most of the increase in wholesale inflation last month. Wholesale food costs, on the other hand, posted the biggest decline in more than two years.

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