The U.S. June producer price index rose 1.8%, while the core rate grew 0.2%, year-over-year PPI increased 9.2% overall and 3.0% at the core, the Labor Department reported yesterday.

IFR Markets projected PPI would increase 1.4% and 0.3% at the core for annual rises of 8.7% overall and 3.2% at the core.

Food prices grew 1.5% in June  compared to an 8.3% gain year-over-year.

Energy prices rose 6.0% in the month and 27.0% in the year, with gasoline prices 9.0% higher in June and up 39.7% over the past 12 months.

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