Rene777 Posted November 16, 2004 Share Posted November 16, 2004 Nothing like the good old 70's. "Wholesale prices soar Report shows biggest jump since 1990, driven by surge in energy costs. November 16, 2004: 11:35 AM EST By Chris Isidore, CNN/Money senior writer NEW YORK (CNN/Money) - Wholesale prices posted their biggest rise in nearly 15 years in October, the government reported Tuesday, leading to worries that inflation might be coming back to haunt the U.S. economy. The producer price index (PPI), which measures prices before they reach consumers, leaped 1.7 percent last month, its fastest rate of increase since January 1990, the Labor Department said. That compares with a 0.1 percent rise in September. Energy prices led the charge, with gasoline prices up 17 percent -- the biggest increase since June 2000 -- and home heating oil prices up 18 percent. Energy prices were up 6.8 percent overall. American Petroleum Institute Learn more about energy prices from the American Petroleum Institute. api-ec.api.org Food prices rose 1.6 percent, with fruit prices up 11 percent and vegetable prices up 34 percent, their biggest jump in more than eight years. Economists said the aftermath of the hurricanes in Florida were partly to blame. The overall reading came in well above even the highest forecasts on Wall Street. " [url]http://money.cnn.com/2004/11/16/news/economy/ppi/index.htm?cnn=yes[/url] The only thing left is for a good old fashion Nixon scandal to hit Bush. I can only hope. :D Link to comment Share on other sites More sharing options...
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