Wholesale prices up 3.2 percent in November, most in 34 years
WASHINGTON (AP) -- There's been a big jump in inflation at the wholesale level.
The government says wholesale prices shot up 3.2 percent in November, the biggest increase in 34 years. Much of that was due to a record rise in gasoline prices.
When volatile energy and food prices are removed, all other prices rose by four-tenths of a percent in November, after being flat the month before.
The pickup in "core" prices suggested inflation may be seeping into a wider range of goods.
Both the headline and core numbers were worse than analysts had expected.