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Financial News Network
February 17, 2011 AT 10:19 AM
The Labor Department reported that U.S. wholesale prices rose 0.8% in January as gasoline costs rose again.Core producer prices, excluding the food and energy categories, rose 0.5%, which is the largest increase since October 2008.Economists had expected 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 and the core rate has risen 1.6%.