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The producer price index rose 0.4% for the month, driven by a 24.1% surge in diesel fuel prices
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The producer price index for final demand rose 0.4% in August on a seasonally adjusted basis, the Bureau of Labor Statistics reported Thursday, putting annual wholesale inflation at 5.4% — the highest 12-month reading this year.
The monthly gain accelerated from July, which was revised up to 0.1% from an initial estimate of no change. The annual figure of 5.4% compares with a 4.8% pace in July.
