From MarketWatch.com:
U.S. producer prices increased by a bigger-than-expected 1.2% in July, the Labor Department reported Tuesday, driven higher by prices for energy, cars, food and other products.
.....
Producer prices are up 9.8% over the past 12 months, which is the most since June 1981.
It looks like food and energy inflation is being passed to wholesale.
Housing starts drop11%.
Separately, the Commerce Department estimated Tuesday that housing starts fell 11% to a seasonally adjusted annual rate of 965,000 in July, close to the 960,000 expected by economists.
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Technorati Tags PPI,July2008,HousingStarts
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