Wholesale Prices Still Dropping After 27-Year High
by Christina Lee on October 21st, 2008
Wholesale prices dropped for the second month in a row after reaching the highest annual rate in 27 years, according to a U.S. Department of Labor report. Prices fell by 0.4 percent in September, following a 0.9 percent decrease the previous month. They are still 8.7 percent higher than they were in September 2007, as the Bureau of Labor Statistics reported last week. The two-month drop in wholesale prices – collectively referred to as the producer price index – follows a 1.2 percent month-to-month increase and a 9.8 percent rise from July 2007, that being the sharpest increase since a... Read more »