Market Ground - Buy, Sell, Trade

marketground.com · Joined: 13 Oct 2006 Posts: 247

A big jump in gasoline prices pushed inflation at the wholesale level up in March at the fastest pace in three months, as oil prices above $70 a barrel sent consumers a high-octane warning of expensive fuel costs ahead.

The Labor Department reported that wholesale prices rose by 0.5 percent in March following a 1.4 percent decline in February, which had been the largest drop in nearly three years.

Consumers can expect even worse numbers in coming months, given that crude oil prices this week have climbed to new records above $70 per barrel. That reflects worries about supply disruptions in Nigeria and increasing tensions between the West and Iran.