Wholesale inflation hike largest in 26 years

January 15, 2008
Wholesale inflation hike largest in 26 years

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.