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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who started this subject11/15/2002 9:10:45 AM
From: zonder  Read Replies (1) of 436258
 
Wholesale Prices Jump 1.1 Percent

By JEANNINE AVERSA 11/15/2002 08:33:40 EST
WASHINGTON (AP) - Wholesale prices shot up by 1.1 percent in October, the biggest leap in nearly two years, catapulted by sharply higher costs for gasoline, cars and trucks.

The big jump in the Producer Price Index, which measures prices of goods before they reach stores shelves, came after a tiny 0.1 percent rise in September and a flat reading in August, the Labor Department reported Friday.

The latest reading on inflation at the wholesale level far exceeded analysts' forecasts. They were predicting a modest 0.2 percent rise.

October's 1.1 percent increase marked the largest advance since January 2001, when wholesale prices went up by the same amount.

Excluding energy and food prices - which can swing widely from month to month - the "core" rate of inflation rose by a sizable 0.5 percent in October, the worst showing since September 1999, and a big pickup from the small, 0.1 percent increase posted the month before.
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