Wholesale prices in US increases 0.2% due to higher food prices


Wholesale prices in US increases 0.2% due to higher food prices-global-annal

 

Wholesale prices in US have risen after a period of four months making food and pharmaceuticals dearer. The increase of 0.2 percent in producer-price index was reported by the report of Labor Department in Washington. In the median estimate survey conducted by Bloomberg assigned 74 economists projected 0.3 percent increase. Core producer costs excluding food and energy prices have also increased by 0.2 percent.

 

The demand for commodities is increasing in the economy with global economy struggling to gain back its lost output. In the absence of strong growth, the Federal Reserve Agency can continue with its historical monetary stimulus.

Source: Bloomberg

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