After yesterday's report showing the biggest increase in U.S. consumer prices in thirteen years, the Labor Department released a report on Wednesday showing U.S. producer prices also jumped by much more than expected in the month of June.
The Labor Department said its producer price index for final demand surged up by 1.0 percent in June after climbing by 0.8 percent in May. Economists had expected producer prices to rise by 0.6 percent.
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