July 12, 2013
The morning’s major economic news:
— Inflation. Wholesale prices rose 0.8 percent in June from May, fueled by a 2.9 percent surge in the price of energy products, . As drivers can confirm, a 7.2 percent jump in the cost of gasoline was responsible for most of that boost.
the overall increase in wholesale prices was “more than expected” and may be a sign that the economy is picking up speed — which in turn could mean that the Federal Reserve will soon feel it can stop trying to give the economy a boost.