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Gas Prices Push Wholesale Price Rise

Financial News Network
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March 16, 2012 AT 2:07 PM
Wholesale prices in the U.S. continued to rise last week, according the Wall Street Journal, pushed up by the already high gas prices in the nation.The rise in the producer price index, which is a measurement of the price that manufacturers and wholesalers will pay for finished goods, is largely a result of the 4.3% increase in gas prices, leaving a seasonally adjusted 0.4% increase in the producer price index. Taken separately from volatile energy and food prices, the index rose by only 0.2%.Fed officials released a statement saying that inflation should not be dramatically affected by the increase.In spite of the wholesale price increase, the U.S. jobs market showed signs of improvement as jobless claims dropped to a level mirroring a four year low last week.