Inflation Pressures Intensify as Producer Prices Jump Higher
Published: Tuesday, 18 Oct 2011 | 8:36 AM ET
By: Reuters
U.S. producer prices rose more than expected in September to record their largest increase in five months as gasoline prices surged, a government report showed on Tuesday.
The Labor Department said its seasonally adjusted index for prices received by farms, factories and refineries, increased 0.8 percent after being flat in August. Economists polled by Reuters had expected prices to increase 0.2 percent.
Excluding volatile food and energy, wholesale prices rose 0.2 percent last month after inching up 0.1 percent in August. That was above economists expectations for a 0.1 percent gain.
But the strong rise in wholesale prices last month is unlikely to spark a broad increase in inflation pressures given the weak economic environment.
It will probably have little impact on the Federal Reserve, which focuses on core inflation, as it weighs options to help the anemic recovery and pull down an unemployment rate stuck above 9 percent.
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Full article: http://www.cnbc.com/id/44942965
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