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To: Secret_Agent_Man who wrote (353381)	1/15/2008 9:19:42 AM
From: Giordano Bruno	Read Replies (1) \| Respond to of 436258

Wholesale Prices Edge Down 0.1% On Lower Energy Prices 1/15/2008 9:17:44 AM Tuesday morning, the Department of Labor released its report on wholesale price inflation in the month of December, showing that prices fell unexpectedly after showing a particularly strong upward move in the previous month. The Labor Department said its producer price index fell 0.1 percent in December following a 3.2 percent increase in November. The decrease came as a surprise to economists, who had expected prices to edge up 0.2 percent. The modest decrease in wholesale prices was partly due to a notable decline in energy prices, which fell 1.9 percent in December after surging up 14.1 percent in the previous month. At the same time, food prices jumped 1.3 percent, partly offsetting the decrease. The report also showed that the core producer price index, which excludes food and energy prices, rose 0.2 percent in December after rising 0.4 percent in the previous month. The increase came in line with economist estimates. For the full year, the Labor Department said that wholesale prices rose 6.3 percent in 2007, the fastest pace of growth since a 7.1 percent advance in 1981. Core prices were up 2.0 percent compared to December of 2006. While the modest monthly decrease in wholesale prices may help to offset some of the recent concerns about inflation, the substantial annual growth indicates that inflation continues to pose a problem for the economy. Some additional inflation data is due to be released on Wednesday, with the Labor Department scheduled to release its report on consumer prices in the month of December. Economists expect prices to edge up 0.2 percent following a 0.8 percent increase in the previous month.