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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Lucretius who wrote (234980)	4/11/2003 8:50:38 AM
From: MythMan	Read Replies (2) of 436258

Wholesale prices jump 1.5% Core prices rise 0.7% in March, countering fears of deflation within the U.S. economy. April 11, 2003: 8:39 AM EDT WASHINGTON (Reuters) - U.S. wholesale prices shot up in March amid higher energy costs and a surge in car prices, the government said Friday in a report that was at odds with expectations of much milder inflation. The Producer Price Index, which measures prices paid at the factory, farm and refinery gate, jumped 1.5 percent last month after a 1 percent gain in February, the Labor Department said. The March gain was more than triple the 0.4 percent rise projected U.S. economists in a Reuters survey. Stripping out volatile food and energy costs, the core PPI rose by 0.7 percent, in contrast to expectations that it would stay steady. The big surprise in the report was a 3.3 percent increase in the price of passenger cars. Light truck prices also soared, rising a record 5.2 percent. Energy costs rose 5.7 percent overall in March, as the combined effects of cold weather and the run-up to the war in Iraq boosted prices. Costs of residential natural gas rose a record 15.2 percent, while home heating oil costs climbed 13.5 percent.

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