Gas prices push whole inflation rate up
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The biggest jump in gasoline prices in six months helped push inflation at the wholesale level higher in May although inflation outside of energy remained well-behaved.
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Inflation at the wholesale level surged by the largest amount in more than three decades in November, reflecting higher prices for gasoline and a host of other items.
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Rising food costs helped push consumer prices up for a second straight month in January by 0.4 percent, more than offsetting a moderation in energy price rises as inflation showed signs of gaining steam, according to a Labor Department report on Wednesday.
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Higher oil and food prices push up inflation in the eurozone to its highest in more than six years.
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Local analysts said the jump in world oil prices, if sustained, could push up petrol prices another 42c/l in coming months, boosting inflation and slowing down spending in the economy.
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U.S. retail gasoline prices rose to  the highest level in more than a month and diesel fuel costs  increased for the first time in three weeks, the Energy  Department said on Tuesday.
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The annual inflation rate edged higher in October, in line with expectations, owing to higher petrol prices and gas and electricity charges, official data shows.
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Canada&#39;s inflation rate unexpectedly accelerated in November to a 2.4 percent rate, reflecting a jump in prices for new cars, gasoline and houses from a year earlier.
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Consumer prices shot up at the fastest pace in 20 months in May, fueled by a surge in gas prices, although inflation pressures were moderate in most other areas.
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Gasoline prices have jumped 33 cents a gallon across the United States over the past month -- the result of higher crude oil prices, greater demand and fears of shortages.
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Surging energy costs drove U.S.  consumer prices up by a hefty and larger-than-expected 0.6  percent last month, the biggest jump since May, a government  report showed on Wednesday.
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Gasoline prices have jumped 33 cents a gallon across the United States over the past month and are expected to climb still higher at least through March, according to the AAA automobile club.
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THE US Federal Reserve has raised interest rates for the third time this year in spite of a renewed surge in oil prices. The widely expected move took the funds rate up a quarter-point to 1.75 per cent, following similar moves in August and June.
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The higher inflation rate was the result of a surge in oil prices early this year. Oil prices have since leveled off, allowing the inflation rate to return to more modest levels.
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But a rise in vehicle and prescription drug prices pushed the rate of core producer inflation â excluding food and energy â up 0.2 percent for the month, a slight acceleration from July.
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Inflation picked up to an annual rate of 1.2 percent in October from a six-month low of 1.1 percent recorded in September as petrol prices at the pump rose, official figures showed.
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Wholesale inflation rose last month at the fastest pace in more than 14 years, largely because of steep jumps in energy and food costs, the government reported yesterday, raising concerns