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January producer prices rise 0.8%; core up 0.5%

January producer prices rise 0.8%; core up 0.5% (by Jeffry Bartash)

WASHINGTON (MarketWatch) - U.S. wholesale prices jumped 0.8% in January as gasoline costs rose again, the government reported Wednesday. And core producer prices, which exclude the volatile food and energy categories, rose 0.5%, marking the largest increase since October 2008. Economists surveyed by MarketWatch had predicted a 0.9% gain in overall producer prices and a 0.3% increase in the core rate. Producer prices have risen 3.6% over the past 12 months on an unadjusted basis. The core rate has climbed a slower 1.6% over that span.