Business Services Industry
Producer Price Index Rises Slightly, Indicating Higher Consumer Prices on Way.
Knight Ridder/Tribune Business News, May, 2004
By Tom Incantalupo, Newsday, Melville, N.Y. Knight Ridder/Tribune Business News
May 14--New government figures yesterday showed a big increase in wholesale prices last month, led by fuel and food, suggesting that consumers will be paying more for a wide array of goods in coming months.
The U.S. Department of Labor said its producer price index, a key indicator of inflation, rose by seven-tenths of a percent from March to April, the largest increase in a year and coming on top of a half-percent increase in March over February.
Without food and fuel, whose prices change frequently and sharply, the increase was only 0.2 percent. Wholesale prices for dairy products rose by more than 10 percent last month because of a supply shortage, and...
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