US wholesale inflation continued its upward trend in January, recording its largest monthly gain in more than four years, according to data released Tuesday by the Labor Department. The Producer Price Index, which measures prices from the seller’s perspective, rose 0.6 percent in seasonally adjusted figures, which was the largest such gain since September 2012 and well above an analyst consensus forecast of 0.3 percent.

Excluding food and energy, the index saw a monthly gain of 0.4 percent. Year over year, however, the figure was unchanged at 1.6 percent, unadjusted. “In short, fairly strong and not just because of energy,” Jim O’Sullivan, chief US economist at High Frequency Economics, wrote in a client note. READ MORE