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U.S. wholesale prices flat in August

U.S. wholesale prices flat in August (by Jeffry Bartash)

WASHINGTON (MarketWatch) - The prices of U.S. goods at the wholesale level were unchanged in August as another decline in fuel costs offset an increase in food, the government reported Wednesday. The more closely followed core producer price index edged up 0.1% last month to mark the ninth straight increase, the Labor Department said. Economists surveyed by MarketWatch had predicted no increase in overall producer prices and a 0.2% increase in the core rate. Energy prices fell for the third straight month, down 1.0%. Yet the cost of food jumped 1.1% in August. Intermediate prices fell 0.5% and crude goods rose 0.2%, the government said. Overall, producer prices are up 6.5% compared to one year ago, while the core rate has risen a slower 2.5% during that span.