Wholesale prices spiked in May after two months of declines
Friday, June 14, 2013 10:50 AM
U.S. wholesale prices rose in May for the first time in three months, nudged up by higher costs for gasoline, fresh eggs and light trucks, according to the U.S. Department of Labor, MarketWatch reported. The producer price index climbed a seasonally adjusted 0.5 percent last month. Economists polled by MarketWatch predicted an increase of 0.1 percent. The spike follows declines of 0.7 percent in April and 0.6 percent in March that were largely the product of falling gasoline prices. Gas prices rose in May, however, to push overall energy costs 1.3 percent higher. Read more.