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Food Prices Surge Most In 26 Years
Posted By admin On April 22, 2010 @ 10:14 am In Money Watch | Comments Disabled
Thursday, April 22, 2010
WASHINGTON (MarketWatch) — Higher prices for vegetables helped drive U.S. wholesale prices higher by a seasonally adjusted 0.7% in March, reversing a drop in February, the Labor Department estimated Thursday.
The producer price index has risen by 6% in the past year, led by a 23% rise in energy prices, the government agency said. It’s the largest year-over-year gain since September 2008.
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Excluding often-volatile food and energy prices, the core PPI increased 0.1% in March and is up 0.9% compared with a year earlier.
The big story in the March PPI was wholesale food prices, which rose 2.4%, matching the biggest gain in 26 years. Prices of fresh and dried vegetables soared 49.3%, the most in 16 years. Prices of seafood, meat and dairy goods also rose. But prices of processed foods were unchanged.
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URLs in this post:
 MarketWatch: http://www.marketwatch.com/story/wholesale-prices-jump-07-on-higher-food-prices-2010-04-22?dist=beforebell
 Image: http://infowars-shop.stores.yahoo.net/post4rioffe.html
 Jobless Claims, Inflation Rise More Than Expected: http://www.prisonplanet.com/jobless-claims-inflation-rise-more-than-expected.html
 World food prices rise further, raising fears of unrest: http://www.prisonplanet.com/world-food-prices-rise-further-raising-fears-of-unrest.html
 Gas prices expected to surge again soon: http://www.prisonplanet.com/gas-prices-expected-to-surge-again-soon.html
 Wholesale prices: Highest annual rate in 27 years: http://www.prisonplanet.com/wholesale-prices-highest-annual-rate-in-27-years.html
 World Food Prices Rise to Record on Sugar, Meat Costs: http://www.prisonplanet.com/world-food-prices-rise-to-record-on-sugar-meat-costs.html
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