WASHINGTON — The monthly change in producer price index was a 0.1% dip in December, but this latest monthly wiggle masks the far more important fact that key prices rose substantially in 2007 even outside of energy.

December core PPI was up 0.2%, and the overall PPI posted a 6.3% gain over the year and core posted a 2.0% rise over the year. PPI had its largest gain since a 7.1% increase in 1981, a year of stagflation, illustrating the risks from rising input costs.

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