Wholesale Prices Rise With Core Inflation Up At Fastest Pace In 15 Months
WASHINGTON D.C. (AP) — Wholesale prices rose again in February as another hefty increase in energy costs offset falling food prices. Outside of food and energy, prices shot up at the fastest pace in 15 months.
The Labor Department reported Tuesday that wholesale prices were up three-tenths of one percent last month, following an even bigger one percent jump in January. Outside of food and energy, the rise in inflation was a troubling one-half percent jump. That was the biggest increase for core inflation since a rise of nine-tenths of one percent in November 2006.
The big February increase raises concerns that relentless increases in energy costs over the past two years are beginning to spread to other areas of the economy.