News Summary: Gasoline costs dent wholesale prices

News Summary: Steep fall in gasoline costs lowers measure of US wholesale prices

Associated Press
News Summary: Gasoline costs dent wholesale prices
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FILE - In this Wednesday, Nov. 7, 2012, file photo, Gloria Castenholz, right, purchases tomatoes at the Union Street Farmer's Market in downtown Gainesville, Fla. Cheaper gas drove down a measure of wholesale prices in November for the second straight month, a sign inflation remains in check. (AP Photo/The Gainesville Sun, Erica Brough) THE INDEPENDENT FLORIDA ALLIGATOR OUT

WHOLESALE PRICES RETREAT: Cheaper gasoline drove down a measure of wholesale prices by 0.8 percent in November, the second consecutive decline and the steepest drop since May.

THE DETAILS: Gas prices fell by the most in more than three years. Food prices rose by the most in nearly two years, pushed higher by costlier beef and vegetables. Excluding volatile food and gas costs, wholesale prices ticked up 0.1 percent in November and 2.2 percent in the past year.

WHO CARES?: The index measures the cost of goods before they reach the consumer. The latest figures indicate inflation remains mild. In the past year, wholesale prices have increased 1.5 percent, the lowest annual pace in four months.

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