Wholesale Prices Up Highest in 34 years


	Wholesale Prices Up Highest in 34 years

blueridge

12-13-2007 11:27 PM

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blueridge says:

Inflation led by oil and fuel prices. Gas up 34% in November.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color:#e5e5e5;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/d1654275-891c-4308-a9ff-ddbc5834b60e/485E2C6E-3BAD-4470-B38E-8F7748B5024C/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.usatoday.com/money/economy/2007-12-13-wholesale-prices_N.htm" href="http://www.usatoday.com/money/economy/2007-12-13-wholesale-prices_N.htm" style="font-size: 11px;">www.usatoday.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.usatoday.com/money/economy/2007-12-13-wholesale-prices_N.htm"><DIV class="inside-copy">November also saw the biggest jump in wholesale inflation since 1973, according to two reports Thursday.</DIV>
<P class="inside-copy">The Labor Department said wholesale prices for finished goods spiked 3.2% in November from the previous month and were up more than 7% from November 2006. The main culprit was energy, with gasoline soaring 34.8% in the month.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.usatoday.com/money/economy/2007-12-13-wholesale-prices_N.htm">The report "drives a stake through the heart of the argument that the U.S. does not have an inflation problem," says Brian Wesbury, chief economist of First Trust Advisors, noting the overall price rise was the "largest single-month hike since 1973, beating every month during the high inflation of the late 1970s as well as the month affected by Hurricanes Katrina and Rita."</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.usatoday.com/money/economy/2007-12-13-wholesale-prices_N.htm">Fed officials have expressed some concern that consumer spending, about two-thirds of economic activity, will slow under the weight of high energy prices, a falling housing market and plummeting consumer confidence.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/485E2C6E-3BAD-4470-B38E-8F7748B5024C/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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