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Wholesale Prices in U.S. Rise for First Time in Four Months
Wholesale prices in the U.S. unexpectedly rose in June for the first time in four months, reflecting an increase in food costs. The 0.1 percent gain in the producer price index followed a 1 percent decrease the prior month, Labor Department figures showed today in Washington. The median estimate in a Bloomberg News survey of 70 economists called for a 0.4 percent fall. Excluding volatile food and energy, the so-called core measure increased 0.2 percent as projected. A. Schulman Inc. and Kennametal Inc. (KMT) are among companies anticipating raw materials costs will remain restrained as markets from Europe to Asia ... (full story)
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