Higher Gasoline Prices Drive U.S. Producer Price Index Higher

The Producer Price Index for final demand in the United States rose by a seasonally adjusted 0.7% in January, more than expected by analysts, with higher gasoline prices accounting for nearly one-third of the rise in the index for final demand goods. The Producer Price Index for final demand increased by 0.7% in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported on Thursday, in yet another closely-followed inflation measure. The increase was higher than the 0.4% rise expected by economists surveyed by Dow Jones.   “Nearly…