U.S. producer prices rose 1 percent last month, more than twice as much as economists had forecast, a sign that inflation may continue to accelerate even as economic growth slows, Bloomberg reported.

The increase follows a 0.3 percent drop in December, according to the U.S. Labor Department. It is more than the 0.4 percent gain economists forecast in a Bloomberg survey. Over the past 12 months, prices paid to U.S. producers have jumped 7.4 percent, the biggest increase since October 1981. Wholesale prices, which exclude food and energy, rose 2.3 percent in the year through January.

In January, energy prices rose 1.5 percent, gasoline prices rose 2.9 percent and food prices climbed 1.7 percent.

This is the last of three inflation measures the Labor Department has reported for January. On Feb. 20, it reported that consumer prices rose more 0.4 percent and on Feb. 15, said that prices of imported goods rose 1.7 percent.