Whole Prices Up by 6.3 Percent Last Year
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WASHINGTON -- Wholesale inflation shot up in 2007 by the largest amount in 26 years even though falling gasoline costs allowed price pressures to moderate in December.
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Airfares have risen nearly 6 percent this holiday season as carriers take advantage of strong demand to recoup some of their higher fuel costs.
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Interest rates on short-term Treasury bills rose in yesterday's auction to the highest levels in three months.
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The U.S. Federal Reserve on Wednesday raised interest rates for a sixth straight time, extending a policy of gradually lifting borrowing costs to levels high enough to ward off inflation pressures.
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Wholesale prices shot up 3.2 percent in November, the biggest jump in 34 years, propelled by gasoline prices. Meanwhile retail sales rose by the largest amount in six months.
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12-month inflation rose to 1.6 percent in December from 1.5 percent in November, boosted by Christmas shoppers and theatre-goers, official figures showed.
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* Increases of 6 to 7 percent in premiums -- and more in small firms.
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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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Consumer prices rose a relatively modest 0.3 percent in December but for all of 2007 prices shot up at the fastest rate in seventeen years, largely because of soaring energy costs, the Labor Department reported on Wednesday.
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Travel: Rail fare increases last year a full percentage point up on previous year.
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Interest rates on short-term Treasury bills rose in yesterday's auction to the highest levels in more than three years.
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US wholesale inflation surged by its highest amount in three decades in November, figures show.
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Overnight rate nearly certain to rise to 6.0% after June prices pass expectations.
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Higher costs for energy and food last year pushed inflation up by the largest amount in 17 years, even though prices generally remained tame outside of those two areas
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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.
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The Philippine economy continued to grow robustly in the third quarter despite rising consumer prices, with the gross domestic product expanding by 6.3 per cent from a year ago
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n Overall fourth-quarter retail sales this year are expected to be 6.5 percent higher than last year&#39;s -- the biggest increase since 1999.