Producer Price Index Rises 0.8%

Prices paid to U.S. producers rose 0.8% in January, the largest gain in six months, the Labor Department said Thursday.

The core producer price index, which excludes food and energy, rose 0.4%, Labor said.

The PPI increase was greater than economists’ forecasts of a 0.3% rise, while core prices were projected to gain 0.1%, 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 could also hurt the economy.