US Prices Rise as Energy Costs Increase

Wholesale prices rose sharply in the US during the month of December but the jump was due almost entirely on energy cost increases. The Producer Price Index rose 1.1 percent compared to 0.8 percent the month before. However, heating oil was up 12.3%, while the cost of gasoline rose 6.4%.

Excluding energy and food costs, prices rose just 0.2% last month. This actually represents a slowdown from November’s 0.3% increase.

Source: BBC News

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