by Christina Lee on July 15th, 2009
The Bureau of Labor Statistics found that wholesale prices rose higher in June than predicted by economists, to the highest level seen in nearly two years.
After incremental increases in April and May, wholesale prices – as measured by the producer price index – rose by 1.8 percent, or twice as high as expected. Just as seen in November 2007, when wholesale prices rose by 3.2 percent, rising energy costs made up most of this increase. Gasoline prices alone rose by 18.5 percent last month.
But, without the consideration of food and energy costs, wholesale prices would have increased by... Read more »
by Christina Lee on June 16th, 2009
Wholesale prices rose just by 0.2 percent last month, following a 0.3 percent increase in April and a 1.2 percent decrease in March.
Economists made predictions ranging from zero change to a 2.3 percent gain, according to Bloomberg. And while they had initially feared any sign of inflation, actual prices suggest that they now have no need to worry.
“There’s no story on inflation here, and deflation doesn’t seem to be a concern,” said Anika Khan, Wachovia economist, to CNN.
Most of the major increases and decreases since last month occur in food and energy prices, according to the Bureau... Read more »
by Veronica Stone on May 14th, 2009
By Bob Willis
May 14 (Bloomberg) — Prices paid to U.S. producers probably rose in April as oil costs rebounded, economists said before a report today.
The projected 0.2 percent increase in wholesale prices would follow a 1.2 percent drop in March, according to the median estimate of 68 economists surveyed by Bloomberg News. Another report may show the number of people claiming jobless benefits climbed last week from a three-month low.
Signs that the worst of the recession is over may boost commodity costs further, alleviating concern over deflation, or an extended drop in prices that hurts the economy.... Read more »