Rating is available when the video has been rented.
This feature is not available right now. Please try again later.
Published on May 20, 2008
BusinessWholesale Inflation Up, Oil Trades Above $129Wholesale Inflation Up, Oil Trades Above $129The Associated PressThe Labor Department reported Tuesday that wholesale inflation increased by 0.2 percent in April following a 1.1 percent jump in March. Outside of food and energy, prices rose by 0.4 percent in April. (May 20)Wholesale inflation increased by two-tenths of a percent in April. Outside of food and energy, prices rose by four-tenths of percent for the month and 3 percent for the past 12 months.That's the fastest increase for a 12-month period since 1991.The report on the Producer Price Index - which measures price pressures before they reach consumers - followed news last week that food costs in April soared by the largest amount in 18 years. Oil prices, meanwhile, have spiked to a new trading high, sweeping past $129 a barrel. This latest surge comes after OPEC's president was quoted as saying his organization won't increase its output before its next meeting in September. ___ ___, The Associated Press.(****END****)