Prices paid to U.S. producers rose 1.7% in August, reflecting an increase in energy costs, the Labor Department said Thursday.
The producer price index increase followed a 0.3% upturn in July. The so-called core PPI, which excludes food and energy, rose 0.2%, Labor said.
Economists had forecast a 1.2% increase in the PPI, while the core rate matched projections, Bloomberg reported.
An increase in the PPI could indicate strong demand for goods, which would mean more shipments for trucking companies. However, if inflation begins to accelerate too quickly, it also could hurt the economy.