Producer prices jump in June on surging gasoline prices

The bottom on June's producer price data? Inflation rose at the wholesale level, but investors can discount much of the increase due to a spike in energy prices.

Producer prices rose 1.8 percent in June, the U.S. Labor Department announced Tuesday, boosted higher by a surge in energy prices, which jumped 6.6 percent in the month, mostly due to the rising price of oil and gasoline. Energy prices also rose 2.2 percent in May.