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U.S. Wholesale Prices Jump 1.1 Percent in September  Join our daily free Newsletter

MENAFN - Saudi Press Agency - 13/10/2012

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(MENAFN - Saudi Press Agency) U.S. wholesale prices rose in September following a second month of sharp gains in gasoline, but outside the surge in energy, the government reported Friday.

Wholesale prices rose 1.1 percent in September following a 1.7 percent gain in August which had been the largest one-month gain in more than three years, the Labor Department said.

In both months, overall prices were pushed higher by gasoline, which rose 9.8 percent in September following an even larger 13.6 percent rise in August, the department said.

Core prices, which exclude food and energy, were unchanged in September. In August, core prices rose 0.2 percent. Food prices, which had jumped 0.9 percent in August, showed a smaller 0.2 percent rise in September.

Wholesale inflation has been stable over the 12 months that ended in September. In that time, overall prices have increased just 2.1 percent. Core inflation is up 2.3 percent over the 12-month period.

Energy prices have eased since September but could rise further because of continued tension in the Middle East. Gas prices averaged 3.81 a gallon nationwide on Wednesday, up three cents from a month ago, according to a survey by AAA‚„s Fuel Gauge.

The government will issue its September report on consumer prices on Tuesday. In August, consumer prices rose 0.6 percent. The gain was also because of a big jump in gas prices. Excluding food and energy costs, consumer prices inched up just 0.1 percent.

 






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