Wholesale prices in July rose more sharply than expected and at a faster rate than consumer prices, 1 that businesses were still protecting consumers 2 the full brunt (冲击) of higher energy costs.
The Producer Price Index, 3 measures what producers receive for goods and services, 4 1 percent in July, the Labor Department reported yesterday, double 5 economists had been expecting and a sharp turnaround from flat prices in June. Excluding 6 and energy, the core index of producer prices rose 0.4 percent, 7 than the 0.1 percent that economists had 8 Much of that increase was result of an 9 increase in car and truck prices.
On Tuesday, the Labor Department said the 10 that consumers paid for goods and services in July were 11 0.5 percent over all, and up 0.1 percent, excluding food and energy.
12 the overall rise in both consumer and producer prices 13 caused by energy costs, which increased 4.4 percent in the month. (Wholesale food prices 14 0.3 percent in July.) 15 July 2004, wholesale prices were up 4.6 percent; the core rate 16 2.8 percent, its fastest pace since 1995.
Typically, increases in the Producer Price Index indicate similar changes in the consumer index 17 businesses recoup (补偿) higher costs from customers. 18 for much of this expansion, which started 19 the end of 2001, that has not been the 20 . In fact, many businesses like automakers have been aggressively discounting their products.