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August 19, 2008
July Wholesale Prices Soar 1.2 Percent
Wholesale prices jumped 1.2 % in July, marking the largest annual increase in 27 years, according to Labor Department statistics.
The jump was pinned on climbing inflation rates, leading analysts to speculate on whether the Fed would step in and raise interest rates in the hopes of curbing inflation.
Business owners are in the difficult position of deciding whether to increase consumer prices to make up for wholesale increases, or just eat the costs. Consumer spending is already down and higher prices could worsen the situation.
Posted by Blacks on August 19, 2008 11:48 AM
