US wholesale prices rise sharply
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NEW YORK, November 16  - US wholesale prices increased sharply by 1.7% in October this year, after a marginal increase of 0.1% in the previous month.
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US producer prices climbed an unexpectedly steep 0.5 percent last month as energy costs mounted, according to a government report on Friday that buttressed the case for interest-rate rises to keep inflation at bay.
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Consumers put aside worries about the weak economy and high gasoline prices to storm the shopping malls, pushing up retail sales in November. Wholesale prices shot up by the largest amount in 34 years, which could be a harbinger of higher prices to come for shoppers.
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Prices paid to US producers rose 1.7 percent last month, the biggest jump in 14 years, as higher energy and food costs suggested that inflation is picking up.
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US food prices will rise by as much as 4 percent this year, the biggest increase in 14 years, due to more costly beef, milk, and fresh vegetables, the Agriculture Department said yesterday.
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US oil prices have surged above $48 per barrel as production and shipping disruptions caused by Hurricane Ivan cause domestic supplies to shrink more than expected.
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Oil prices jump to record closing levels in New York amid concerns about the US supply situation.
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Inventories at U.S. wholesalers climbed a steeper-than-expected 1.1 percent in November as stocks increased across a wide variety of categories, including cars and computers, a government report showed on Monday.
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Soaring petroleum prices pushed the cost of goods imported into the U.S. much higher than expected in August, the government said today.
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Prices paid to US producers rose 1.7 percent last month, the biggest jump in 14 years, as higher energy and food costs suggested that inflation is picking up with economic demand.
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Inventories at U.S. wholesalers rose   by a slightly larger-than-expected 0.8 percent in July on   bigger stockpiles of autos and electrical equipment, a Commerce   Department report on Thursday showed.
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You can bet the 0.5% jump in November wholesale prices will be on the minds of Alan Greenspan &amp; Co. when the Federal Open Markets Committee meets the week of Dec. 13.
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Inventories at U.S. wholesalers  climbed a steeper-than-expected 1.1 percent in November as  stocks increased across a wide variety of categories, including  cars and computers, a government report showed on Monday.
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US producer prices - a measure of wholesale inflation - rose by a faster than expected 0.5% in November, seasonally adjusted Labor Department figures showed this afternoon.
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Wholesale prices shot up 1.7% last month, biggest gain in nearly 15 years and well above expectations, as energy costs skyrocketed and food prices surged, a government report said Tuesday.
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US factory prices rise at their highest rate in 34 years, raising inflation fears at a time of interest rate cuts.
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Inventories at wholesalers rose more than forecast in November and sales increased, reflecting rising prices for oil and farm products.