U.S. wholesale prices rise 0.2 percent in May

09:42, June 15, 2011      

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U.S. wholesale prices rose 0.2 percent in May, which registered the 11th consecutive monthly gain but the pace slowed, reported the Labor Department on Tuesday.

In May, the growth of the Producer Price Index (PPI), which measures price changes before they reach consumers, was mainly boosted by energy costs.

The PPI index increased 0.7 percent in March and 0.8 percent in April respectively, said the department.

Last month, energy prices rose 1.5 percent after a 2.5 percent jump in April. Food costs shed 1.4 percent in May, the biggest decline since June 2010.

Over the past 12 months ending May, wholesale prices advanced 7.3 percent, the most since September 2008.

Excluding the volatile food and energy sectors, the so called "core" wholesale prices edged up 0.2 percent in May.

Source: Xinhua
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