-
Wholesale Prices in U.S. Rise Most in Three Years as Oil Surge
Wholesale prices in the U.S. increased in August by the most in more than three years, reflecting a surge in energy costs. The producer price index climbed 1.7 percent after an increase of 0.3 percent in July, the Labor Department reported today in Washington. The median estimate in a Bloomberg survey of 79 economists called for a 1.2 percent gain. Core wholesale inflation, which excludes volatile food and energy prices, rose 0.2 percent, in line with forecasts. Companies may find it difficult to pass on higher energy costs as the global economic slowdown and so-called fiscal cliff of higher taxes and government ... (full story)