Wholesale Prices Up 0.7 Percent; Jobless Claims Rise
Two fresh economic indicators:
-- The number of people filing first-time claims for unemployment benefits rose by 27,000 last week, to 412,000, the Employment and Training Administration says. Claims had edged down the previous two weeks.
-- Wholesale prices rose 0.7 percent in March from February, according to the Bureau of Labor Statistics. That follows increases of 1.6 percent in February and 0.8 percent in January. A sharp, 2.6 percent, boost in energy costs was largely responsible for last month's rise. One bright spot: According to Bloomberg News, "the increase in the producer-price index was smaller than forecast as food prices unexpectedly dropped for the first time since August."
In the 12 months ended March 31, wholesale prices are up 5.8 percent. Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.