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Inflation Jumps on Energy Costs

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  • lawrence_01749
    From the NY Times, November 16, 2004 Wholesale Prices Jump on Energy Costs By THE ASSOCIATED PRESS Filed at 8:34 a.m. ET WASHINGTON (AP) -- Propelled by
    Message 1 of 2 , Nov 16, 2004
      From the NY Times, November 16, 2004
      Wholesale Prices Jump on Energy Costs
      By THE ASSOCIATED PRESS

      Filed at 8:34 a.m. ET

      WASHINGTON (AP) -- Propelled by sharply higher energy and food
      costs, wholesale prices soared up by 1.7 percent in October, the
      largest increase since early 1990.

      The big over-the-month advance in the Producer Price Index, which
      measures costs of goods before they reach store shelves, came after
      wholesale prices edged up just 0.1 percent in September, the Labor
      Department reported Tuesday.

      The report suggested that inflation at the wholesale level is
      picking up after months of being quite well-behaved.

      Excluding energy and food costs, which can swing widely from month
      to month, ``core'' wholesale prices climbed in October by 0.3
      percent for the second month in a row.

      The PPI figures showed larger gains than economists were expecting.
      They were forecasting overall wholesale prices to go up by 0.6
      percent in October and core prices to edge up by 0.1 point.
    • dairymandave2003
      Dairy farmers have been informed that butter and cheese prices are headed up higher than previously expected. Food staples will follow oil prices. How could it
      Message 2 of 2 , Nov 17, 2004
        Dairy farmers have been informed that butter and cheese prices are
        headed up higher than previously expected. Food staples will follow
        oil prices. How could it be otherwise?

        David McKenney, NY

        --- In energyresources@yahoogroups.com, "lawrence_01749"
        <lawrence_01749@y...> wrote:
        >
        >
        > From the NY Times, November 16, 2004
        > Wholesale Prices Jump on Energy Costs
        > By THE ASSOCIATED PRESS
        >
        > Filed at 8:34 a.m. ET
        >
        > WASHINGTON (AP) -- Propelled by sharply higher energy and food
        > costs, wholesale prices soared up by 1.7 percent in October, the
        > largest increase since early 1990.
        >
        > The big over-the-month advance in the Producer Price Index, which
        > measures costs of goods before they reach store shelves, came after
        > wholesale prices edged up just 0.1 percent in September, the Labor
        > Department reported Tuesday.
        >
        > The report suggested that inflation at the wholesale level is
        > picking up after months of being quite well-behaved.
        >
        > Excluding energy and food costs, which can swing widely from month
        > to month, ``core'' wholesale prices climbed in October by 0.3
        > percent for the second month in a row.
        >
        > The PPI figures showed larger gains than economists were expecting.
        > They were forecasting overall wholesale prices to go up by 0.6
        > percent in October and core prices to edge up by 0.1 point.
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