US wholesale prices up sharply in October
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Wholesale prices in the United States jumped 1.7 percent in October as a result of sharply higherenergy and food costs, the Labor Department reported on Tuesday.
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U.S. consumers are facing higher prices for appliances with retailers raising prices this month to offset rising raw material costs.
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The U.S. trade gap widened nearly 9  percent in October to a record $55.5 billion as sky-high oil  prices helped propel imports into new territory, the government  said on Tuesday, while a second report showed industrial output  rose in November, as expected.
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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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A big jump in energy costs sharply  pushed up prices that U.S. manufacturers and wholesalers paid  for goods last month, but outside of energy the inflation  picture looked tame.
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Wholesale prices climbed by 0.5 percent in November &#151; an improvement compared with the previous month's surge, but still fresh evidence that inflation is picking up as the economy gains momentum.
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The U.S. trade gap widened nearly 9  percent in October to a record $55.5 billion as sky-high oil  prices helped propel imports into new territory, while  industrial output rose as expected in November.
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U.S. core consumer prices kept rising in October and new claims for unemployment benefits unexpectedly shot higher last week, according to government reports on Thursday that implied the economy faces continuing pressure to keep growing without spurring inflation.
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British wholesale prices, or the cost of goods at the factory gate, rose by 0.1 percent in November from October.
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Last month, wholesale prices posted their biggest increase in 14 years, the Labor Dept. reported on Nov. 16. The Producer Price Index, a gauge of prices received by farms, factories, and refineries, rose 1.7%, nearly twice as high as forecasted.
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Wholesale costs -- catapulted by more expensive energy and food -- soared last month by the largest amount in more than 14 years. With inflation at the producer level accelerating sharply after months of being
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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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US wholesale inflation surged by its highest amount in three decades in November, figures show.
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Description: NPR&#39;s Alex Chadwick talks to Tess Vigeland of Marketplace about the jump in wholesale prices that has fueled inflation worries.
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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 that businesses may be under growing pressure to raise consumer prices.
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Surging energy costs drove up U.S.  consumer prices a hefty and larger-than-expected 0.6 percent in  October, while industrial output and housing starts rebounded  strongly from the prior month.
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The US manufacturing sector expanded at a slower rate than expected in October thanks to a combination of higher energy costs and surging market prices for many commodities.