Posted: Feb 18, 2010 7:26 AM by Bea Karnes, News First 5
Updated: Feb 18, 2010 7:26 AM
Wholesale prices shot up at double the expected pace in January, propelled higher by big increases in energy costs. The surprisingly large jump was viewed as a temporary blip and not the start of inflation problems.
The Labor Department said Thursday that wholesale prices rose 1.4 percent last month, reflecting higher costs for gasoline and other energy products. Private economists had expected a 0.7 percent increase.
Core inflation at the wholesale level, which excludes energy and food, rose 0.3 percent in January, faster than the 0.1 percent increase economists had predicted.