By Jeffry Bartash
WASHINGTON (MarketWatch) - U.S. wholesale prices climbed 1.1% in December, largely owing to a spike in gasoline prices, the Labor Department reported Thursday. Core producer prices, which exclude the volatile food and energy categories, rose a lesser 0.2%. Both figures are seasonally adjusted. Economists surveyed by MarketWatch had predicted a 1.1% gain in overall producer prices but a much smaller 0.2% increase in the core rate. The core number tends to draw the most attention of economists. Wholesale energy costs rose 3.7% in December, while food prices increased 0.8%. Prices for core intermediate goods, viewed as an important indicator of inflation, rose 0.4%.
