February 19th, 2009 // comments (0)

Wholesale Inflation Jumps .8 Percent

Add this lovely tidbit to our ever-expanding list of economic woes:

WASHINGTON (AP) — Inflation at the wholesale level surged unexpectedly in January, reflecting sharply higher prices for gasoline and other energy products.

The Labor Department said Thursday that wholesale prices increased by 0.8 percent last month, the biggest gain since last July and well above the 0.2 percent increase that economists had expected.

The acceleration was led by a 3.7 percent surge in energy prices with gasoline prices jumping by 15 percent, the biggest gain in 14 months.

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