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Thursday, Mar 28, 2024

Wholesale prices rise faster than expected

WASHINGTON — Soaring food and fuel costs caused wholesale prices to rise much faster than expected last month, raising the possibility of more sticker shock for consumers and more inflationary pressure for the nation’s economy. The producer price index jumped 1.1% in March from February — nearly triple the 0.4% increase that analysts expected, the Labor Department reported Tuesday. Over the last 12 months, the index was up 6.9%, led by a 20% leap in energy prices and a 5.8% increase for food. “Core” producer prices, which exclude food and energy, rose only a modest 0.2% in March. But that’s small comfort for consumers whose household budgets have been stretched by the rising costs of driving and eating. For the full story visit http://www.latimes.com/business/la-fi-econ16apr16,1,2722577.story

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