Wholesale Prices Jump on Energy Costs
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Soaring energy costs and a surge in food prices contributed to a 1.7 percent rise in U.S. producer prices, the biggest gain in almost 15 years.
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Consumer prices jumped a bigger-than-expected 0.8 percent in November, the sharpest climb in more than two years and driven by surging energy costs, a government report released on Friday showed.
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Wholesale prices in the US surges ahead in May, up 0.9%, adding to concerns over continuing inflation risks
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Utilities firm increases gas prices by 12.9% and electricity prices by 7.9%
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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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Surging energy costs drove up U.S.  consumer prices a hefty and larger-than-expected 0.6 percent  last month, while industrial output grew strongly after  rebounding from hurricanes and housing starts leapt, government  reports showed on Wednesday.
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NEW YORK -- Retail gas prices rose overnight yesterday for the first time in more than a month as the closure of a Kansas refinery sent prices in the center of the country sharply higher. Oil futures, meanwhile, surged $1 a barrel to another 10-month high.
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Japan's wholesale prices rose at an annual rate of 3.4% in August, following higher raw material and oil costs.
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British wholesale prices, or the cost of goods at the factory gate, rose by 0.3 percent in September from August, driven up by record high crude oil prices.
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U.S. producer prices shot up 1.7 percent last month, the biggest gain in nearly 15 years and well above expectations, as energy costs skyrocketed and food prices surged, a government report showed on Tuesday.
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Higher energy costs boosted producer  prices 0.9 percent in May, but excluding volatile food and  energy costs, prices paid at the factory gate were up a more  moderate 0.2 percent, the Labor Department reported on  Thursday.
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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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The company says the record price of wholesale gas, which also effects the cost of electricity, is to blame. A spokesman said the increases would add an extra 7p a day to electricity bills.
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Consumer prices jumped a  bigger-than-expected 0.8 percent in November, the sharpest  climb in more than two years and driven by surging energy  costs, a government report released on Friday showed.
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The average retail price of a gallon of gasoline in the United States jumped nearly 13 cents in the last two weeks and could go higher as retailers currently facing losses try to recover their profit margins, according to an industry analyst.
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LONDON -- British Gas on Tuesday announced sharp increases in domestic natural gas and electricity bills, blaming part of them on the high cost of wholesale gasoline.
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WASHINGTON -- 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.