December inflation up 0.9%, driven by gasoline prices
January 10, 2006
Thanks to a jump in gasoline prices, inflation of wholesale goods jumped 0.9 percent in December, the U.S. Bureau of Labor Statistics reported. For 2005, wholesale prices rose 5.4 percent, up from a 4.1 percent increase in 2004.
The pace of inflation in 2005 was fastest since 1990 when Iraq invaded Kuwait, but core prices remained contained. Core inflation, excluding energy and food, was up just 1.7 percent in 2005 and 0.1 percent in December.
Inflation rates for December and all of 2005 in key areas:
Finished Energy Goods: Up 23.9% in 2005 The index for finished energy goods jumped 3.1 percent in December, according to the BLS, following a 4 percent decline in November. Most of this upturn can be attributed to gasoline prices, ...