Producer prices rise more than forecast
The jump in prices was led by the index for final demand services, notably those related to securities brokerage and dealing, which increased 7.7%.
Economists had forecast an increase by 0.3% month-on-month, according to Bloomberg.
Core PPI, which excludes volatile food and energy costs, rose 0.4% month-on-month (0.1% expected.)
Compared to the same time a year ago, PPI for final demand rose 0.3% (0% expected), and 1.3% (1% forecast.)
Producer prices are used as a forward-looking indicator of consumer-price inflation. The idea is that if wholesale prices are rising, retailers would likely pass these costs on to regular buyers.