Wholesale inflation still mild despite increase
WASHINGTON – U.S. wholesale prices rose only slightly in January after three straight declines, the latest sign that inflation is posing no threat. It means the Federal Reserve has room to keep interest rates at record lows without worrying about igniting inflation.
The Labor Department said Wednesday that its producer price index rose 0.2 percent last month, the first increase since September. Gasoline and other energy prices fell, while food prices jumped 0.7 percent after dropping sharply in December.
The index measures the cost of goods before they reach consumers. Wholesale prices are what manufacturers and farmers receive for their products.
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