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  • More Signs Inflation's Picking Up

    12/11/2004 4:21:55 PM PST · by jb6 · 14 replies · 567+ views
    CBS News ^ | Dec. 11, 2004
    (AP) Wholesale prices climbed by 0.5 percent in November — an improvement compared with the previous month's surge, but still fresh evidence that inflation is picking up as the economy gains momentum. The increase in the producer price index, reported by the Labor Department on Friday, came after wholesale prices shot up by 1.7 percent in October, the biggest rise in more than 14 years. "Inflation pressures are mounting in the U.S. economy," said Sherry Cooper, chief economist at BMO Nesbitt Burns. The reading in November on the PPI, which measures the costs of goods before they reach store shelves,...