Byline: JAMES H. RUBIN Associated Press
WASHINGTON Inflation at the wholesale level is on the rise, the government said Friday, touching off waves of selling on Wall Street and making another round of interest rate increases more likely this year.
The Labor Department said wholesale prices in August rose more rapidly than they have in four years, as higher commodity prices pushed their way through the economic pipeline.
Analysts said while consumers are likely to feel the pinch soon, there is no reason to fear a return to 1970s-style runaway inflation.
The Producer Price Index, measuring inflation pressures before they reach the …
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