"Inflation picked up in October due to higher prices that U.S. companies received for new model cars, beef, pork, pharmaceuticals and electric power.Blame the Fed.
The producer price index increased 0.2% in October from the previous month, the Labor Department said Tuesday. The index measures the cost of goods and services before they reach the consumer.
Prices for many products climbed even as wholesale gas costs plummeted 5.8% last month. Automakers contributed to inflation by introducing 2015 car models, while beef prices jumped 6% and pork prices surged 8.1%."
Tuesday, November 18, 2014
Economy
Falling gas prices can't offset the general price inflation.
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