Wholesale prices shoot up near-record 11.3% in June on surge in energy costs

The Bureau of Labor Statistics reported Thursday that producer prices surged a near-record amount from a year ago in June.

The producer price index rose 11.3% from a year ago, the highest reading since March.

The majority of the gain came from a 10% increase in final demand energy costs.

Core inflation, which excludes energy, food and trade service prices, rose 6.4% on a year-over-year basis, slower than the 6.8% increase in May.

The core measure increased less than expected on a monthly basis. Headline inflation was higher than the estimate.

One day after the BLS reported that the consumer price index, which measures final-sale prices in the marketplace, surged 9.1%, the release came.

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