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Wholesale prices rise 1% in January, up near-record 9.7% over the past year

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Prices at the wholesale level jumped twice the expected level in January as inflation pressures were unabated to start the year, the Labor Department said Tuesday.

The producer price index, which measures final-demand goods and services, increased 1% for the month, against the Dow Jones estimate for 0.5%. Over the past 12 months the gauge rose 9.7%, close to a record in data going back to 2010.

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