MARTIN CRUTSINGER
Associated Press
July 15, 2008

WASHINGTON (AP) – Soaring costs for gasoline and food pushed inflation at the wholesale level up by a larger-than-expected amount in June, leaving inflation rising over the past year at the fastest pace in more than a quarter-century.

The Labor Department reported that wholesale prices jumped by 1.8 percent last month, the biggest one-month rise since last November. Over the past 12 months, wholesale prices are up 9.2 percent, the largest year-over-year surge since June 1981, another period when soaring energy costs were giving the country inflation pains.

Core inflation, which excludes energy and food, was better behaved in June, rising by just 0.2 percent, slightly lower than expectations.

Read article

Truth Rising 9/11 Chronicles Part One: Truth Rising
Get the DVD and make copies or watch the high quality streaming and download version online at Prison Planet.tv. Click here to read more about the film and view sample trailers.

Related Articles


Comments