US Wholesale Prices on the Rise

Higher prices for energy and automobiles helped push wholesale prices higher by 0.7 percent for the month of March. The increase was less than predicted due to moderating food prices which eased for the first time since last August. Core prices which exclude food and energy increased by 0.3 percent which was actually more than anticipated.

“The trend in core prices is upward and that is consistent with what we’re seeing in earlier stages of production,” said Aaron Smith, a senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania. “Manufacturers are finding some pricing power, but there is still quite a lot of slack in the factory sector and demand is moderate.”

Source: Bloomberg

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