Most commodity prices are climbing after a new government report indicated inflation may be inching higher, with prices for wheat, corn, soybeans and metals all higher. Energy contracts are mostly lower.

The Labor Department said Thursday the Consumer Price Index rose 0.4 percent last month. Core prices, which exclude volatile food and energy costs, rose 0.2 percent. That’s the largest monthly increase in more than a year.

The price increases reflect creeping but still-modest inflation. Commodities contracts are often used by investors as a hedge against inflation.