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Economic Report: Wholesale inflation jumps to six-year high, PPI shows

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Wholesale prices for goods and services rose again in June to push the yearly rate of producer inflation to a nearly seven-year high.

The numbers: The wholesale cost of goods and services rose in June at the highest yearly rate in almost seven years, reflecting broad inflationary pressures in a fast-growing U.S. economy.

The producer price index rose 0.3% June, the Labor Department said Wednesday. That’s a tick above the MarketWatch forecast.

The 12-month rate of wholesale inflation, meanwhile, climbed to 3.4% from 3.1%, marking the highest perch since the waning months of 2011.

Somewhat less worrisome, the yearly rate of core wholesale inflation stood at 2.7% and was several notches below a recent high.

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