U.S. Wholesale Prices Rise 0.9 Percent
Posted on: Wednesday, 17 January 2007, 12:00 CST
U.S. wholesale prices rose 0.9 percent in December, down sharply from a three-decade high of 2 percent in November, the Labor Department said Wednesday.
Food prices jumped 1.7 percent, the steepest rise since October 2003, due to sharply higher prices for fresh fruits and vegetables.
Wholesale prices of passenger cars dropped 0.2 percent, while wholesale light truck prices rose 0.7 percent, the department said.
For the whole year, producer prices were up 1.1 percent, down sharply from the 5.4 percent rate in 2005, the department said.
The easing reflected a slowdown in the rise in energy costs, the department said.
For 2006, energy costs were down by 2 percent after having soared by 23.9 percent in 2005.
Core producer prices -- producer prices not including food and energy -- rose 0.2 percent in December, after rising 1.3 percent the previous month.
The Labor Department releases December consumer-price figures Thursday.
Source: United Press International
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