U.S. Economy

     (CN) The prices charged by U.S. producers rose in June at the fastest pace in 13 months, the Labor Department said Thursday, attributing the rise to a surge in the price of gasoline and other energy products.
     According to the department’s Bureau of Labor Statistics, the producer price index, which measures cost pressures before they reach consumers, increased 0.5 percent in June.
     That was the largest one-month jump since a similar rise in May 2015.
     Energy prices were up 4.1 percent last month while food costs rose 0.9 percent. Core inflation, which excludes volatile food and energy, rose 0.4 percent in June, the biggest increase since January.
     For June, the 4.1 percent rise in energy costs reflected a 9.9 percent jump in the price of gasoline, the biggest increase since a 17.7 percent rise in May 2015.
     The 0.9 percent increase in food costs was the largest since a similar rise in January. The price of corn rose 10.7 percent in June, the sharpest jump since August 2012, while meat prices were up 4 percent.

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