Friday, July 13, 2012

Inflation Jumps

U.S. producer prices unexpectedly rose in June despite big drops in energy prices, a sign that some inflation pressures could keep the Federal Reserve on guard. 

The Labor Department said on Friday its seasonally adjusted producer price index rose 0.1 percent last month. Analysts polled by Reuters expected the index to drop 0.5 percent. The increase was driven by gains in consumer goods like household appliances, light trucks, and pet food. 

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