Wholesale price report shows inflation in check

Wholesale prices jumped slightly in May, the government said Tuesday, but the increase was less than expected and the 5% annual rate of decline was the sharpest since 1949.

The Producer Price Index, which tracks the changes in selling prices for domestic producers, rose by 0.2% last month. The report is widely watched to monitor inflation.

A consensus estimate of economists surveyed by Briefing.com had forecast a 0.6% increase.

Read Full Article from CNNMoney.com

- Posted: 2009-06-16 10:07:53

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