WASHINGTON - Producer prices increased 0.4% in August, the largest gain since March, as energy prices increased, the Commerce Department reported Thursday.
Core producer prices, excluding food and energy goods, increased 0.1%.
Economists expected producer prices would increase 0.3% and core prices would increase 0.1%, according to the median estimate from Thomson Reuters.
Producer prices rose 0.2% in July, the first increase in four months, while the core rate increased 0.3% in July.
Energy prices jumped 2.2% in August, the largest increase since January. Gasoline prices increased 7.5%, also the largest gain since January.
For the 12-months ending in August, producer prices increased 3.1%. Core prices rose 1.3% for the year ending in August.
Consumer prices for August will be released by the Labor Department on Friday.
