The January surge left wholesale prices rising by 7.5 percent over the past 12 months, the fastest pace in more than 26 years, since prices had risen at a 7.5 percent pace in the 12 months ending in October 1981.
Food prices, which have been surging because of increased demand stemming from ethanol production, rose by 1.7 percent last month, the biggest monthly increase in three years. Prices for beef, bakery products and eggs were all up sharply.
This next one is interesting considering my previous post:
The Home Depot Inc. said Tuesday its fourth-quarter profit fell more than 27 percent and a dour housing market contributed to the first annual sales decline for the world’s largest home improvement store chain.