Producer prices up on energy rise in May
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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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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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Propelled by sharply higher energy and food costs, wholesale prices soared up by 1.7 percent in October, the largest increase since early 1990.
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Rising energy and transport costs helped push inflation higher last month, raising the prospect that interest rates may increase next year.
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Producer prices surged at a 34-year high rate of 3.2 percent in November on a record rise in gasoline prices, the Labor Department said on Thursday.
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US 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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Producer prices, or the cost of goods at the factory gate, rose by 0.3 percent in February from the previous month, official data showed Monday.
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Oil prices jumped more than 3 percent  on Tuesday to a one-month high of $99 a barrel as expectations  that OPEC will keep production tight spurred supply concerns.
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OIL prices rose from three- month lows yesterday as political unrest overseas renewed concerns about supplies, while some Organisation of Petroleum Exporting Countries members started talking about cutting production to protect their incomes.
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Oil prices briefly climbed back over $50  on Tuesday, pushed higher by supply outages in the North Sea  and fears about low stocks of winter heating fuels.
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U.S. producer prices edged up just 0.1 percent in September, held back by a big energy-price drop, but the cost of non-energy items picked up steam, a government report showed on Friday.
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Producer prices surged 3.2 percent  in November, the biggest rise in 34 years, on a record rise in  gasoline prices, the Labor Department said on Thursday.
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Surging energy costs drove US 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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ScottishPower announces rises in its gas and electricity prices from next month.
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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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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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UK's biggest energy provider announces price rise for gas and electricity customers