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flag Producer prices surged 1.2% due to high energy costs following Iran war.

flag Producer prices rose sharply in July due to a surge in energy costs following the outbreak of war in Iran. flag The Labor Department reported that the Producer Price Index increased by 1.2%, driven largely by higher prices for gasoline and other fuels. flag This marked the steepest monthly gain in over a year, signaling rising costs for businesses that may eventually be passed on to consumers.

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