The Producer Price Index for Finished Goods (PPI) seasonally adjusted increased by 1.09% in March compared to the previous month and 6.93% compared to last year. Core PPI (less food and energy) increased by 0.24% compared to February 2008 and 2.80% compared to March 2007.
April looks rough already. Crude oil and Gasoline futures reached record highs today. In the past twelve months, sugar prices are up 27%,Corn prices have surged 67% and wheat prices have shot up 73%. Inflation is still raising its ugly head in the face of a recession when inflation pressures usually fall with the slowing economy.
April looks rough already. Crude oil and Gasoline futures reached record highs today. In the past twelve months, sugar prices are up 27%,Corn prices have surged 67% and wheat prices have shot up 73%. Inflation is still raising its ugly head in the face of a recession when inflation pressures usually fall with the slowing economy.
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