Wholesale Prices Rise in December

Washington, DC, Jan. 13, 2011 — U.S. wholesale prices rose 1.1% in December, mostly due to a spike in gasoline, the Labor Department reported Thursday.

The increase in producer prices last month was the biggest since last January.

However, core producer prices, which exclude food and energy, rose 0.2%.

Wholesale prices have climbed 4% over the past 12 months, but the core rate has risen just 1.3%.