US PPI widens
Source: Agencies |
March 17, 2011, Thursday
|
Print Edition
Print Edition
HIGHER energy costs and the steepest rise in food prices in nearly four decades drove United States wholesale prices up last month by the most in nearly two years. Excluding those categories, inflation was tame.
The Producer Price Index rose a seasonally adjusted 1.6 percent in February, the US Labor Department said yesterday. That's double the 0.8 percent rise from the previous month.
Outside food and energy costs, the core index ticked up 0.2 percent, less than January's 0.5 percent rise.
Food prices soared 3.9 percent last month, the biggest gain since November 1974. Most of that increase was due to a sharp rise in vegetable costs, which jumped nearly 50 percent. That was the most in almost a year. Meat and dairy products also rose.
Energy prices rose 3.3 percent last month, led by a 3.7 percent gain in gasoline costs.
The Producer Price Index rose a seasonally adjusted 1.6 percent in February, the US Labor Department said yesterday. That's double the 0.8 percent rise from the previous month.
Outside food and energy costs, the core index ticked up 0.2 percent, less than January's 0.5 percent rise.
Food prices soared 3.9 percent last month, the biggest gain since November 1974. Most of that increase was due to a sharp rise in vegetable costs, which jumped nearly 50 percent. That was the most in almost a year. Meat and dairy products also rose.
Energy prices rose 3.3 percent last month, led by a 3.7 percent gain in gasoline costs.
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