A rise in energy costs was reflected at the time when wholesale market in the US saw a rise in process. It is said that the market has seen maximum rise in more three years now. As per the information being retrieved from the Labor Department, it has been revealed that a jump of 1.7% was seen on the producer price index.
Main concern is that unemployment is on rise in the country and rise in wholesale prices is adding to the existing problem. It is not that the Federals have not been making efforts to solve the problem. In fact, they have decided to buy $40 billion of mortgage debt and they will continue of doing so till the time, employment rate gets improved.
Not only this, policy makers have also been found to be cooperating with the Federals. It has been found that they have announced that they will not be raising any sort of rates till 2015.
Gus Faucher, who is positioned as a senior economist and has been working with the PNC Financial Services Group, was of the view that they are still witnessing a modest rise in economy growth. "There is little indication that it's going to pass through to higher consumer inflation", further asserted Faucher.
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