NeWS to KnOW

U.S. producer prices unexpectedly soared at their highest annual rate in 27 years last month as rising wholesale prices for energy spread to a variety of products including automobiles, prescription drugs and capital equipment. The Labor Department said the producer price index for finished goods jumped 1.2% on a seasonally adjusted basis in July, representing a 9.8% rise from the previous year. The core index, which excludes food and energy, climbed 0.7% last month and rose 3.5% from a year ago, a 17-year high.

Posted by Daniel DiGuglielmo on August 19th, 2008 8:30 AMPost a Comment (0)

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Daniel DiGuglielmo - Your Mortgage Banker
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