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The U.S. Labor Department released producer prices on Wednesday. The U.S. producer price index rose 0.4% in June, exceeding expectations for a 0.2% increase, after a 0.2% decline in May.
On a yearly basis, producer prices climbed 1.9%, beating forecasts of a 1.8% rise, after a 2.0% gain in May.
Food prices dropped 0.2%. That was a second straight month decline. Gasoline prices rose 6.4%. That was the largest increase since September 2012.
Producer price index excluding food and energy climbed 0.2% in June, missing expectations for a 0.3% gain, after a 0.1 fall in May.
On a yearly basis, the PPI excluding food and energy gained 1.8%, exceeding expectations for a 1.7% rise, after 2.0% increase May.
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