Producer Price Index Jumps 1.8%

Prices paid to U.S. producers jumped 1.8% in June, led by surging fuel costs, the Labor Department said Tuesday.

The core producer price index, which excludes food and energy, gained 0.2%.

Economists had forecast a 1.4% increase in the overall rate and a 0.3% core gain, Bloomberg reported.

Food prices rose 1.5%, while fuel prices jumped 9%.

An increase in the PPI could indicate strong demand for goods, which would mean more shipments for trucking companies. However, if inflation begins to accelerate too quickly, it could also hurt the economy.