'07 wholesale inflation highest in 26 years [View All]

[Lone_Star_Dem]

Source: CNNMoney

Labor Department says soaring energy costs pushed wholesale inflation up 6.3% in 2007.

WASHINGTON (AP) -- Wholesale inflation shot up in 2007 by the largest amount in 26 years, even though falling gasoline costs allowed price pressures to moderate in December.

The Labor Department reported that wholesale inflation was up 6.3 percent for all of 2007, reflecting a huge increase for the year in various types of energy costs ranging from gasoline to home heating oil.

Read more: http://money.cnn.com/2008/01/15/news/economy/bc.economy.ap/index.htm?postversion=2008011508