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INSTANT VIEW 1-US producer prices up on surging gasoline, core rate flat

NEW YORK, Oct 12 (Reuters) - U.S. producer prices rose more than expected in September as the cost of energy surged, a government report showed on Friday, but underlying inflation pressures were muted.

STORY: TABLE COMMENTS:

TODD SCHOENBERGER, MANAGING PRINCIPAL AT THE BLACKBAY GROUP IN NEW YORK

"If you look at the month-over-month, it did cool down a bit, which is interesting. People who expect recent Fed actions to lift inflation are probably right, but I don't think we'll see the impact of that for a few months, so enjoy this while you can.

"This shouldn't impact trading as traders remain focused on earnings and outlooks. That will have a much bigger impact on trades right now."

MARKET REACTION:

STOCKS: U.S. stock index futures held onto their earlier gains .

FOREX: The dollar maintained its losses versus the euro and held its gains versus the yen .

BONDS: U.S. Treasury debt prices held steady .

(Americas Economics and Markets Desk; +1-646 223-6300)

Keywords: USA ECONOMY/PPI