Wholesale Prices Rise 1.2% in July — Despite Lower Oil Prices
August 19th, 2008
The disparity suggests that higher energy costs over the past year are working their through the economy and may make the Federal Reserve more likely to raise interest rates in the coming quarters. “The annual increase in overall prices, including energy, was 9.8 percent, the biggest 12-month jump since the deep recession of the early 1980s.” The New York Times (August 19, 2008)