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Wholesale prices rise slightly

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Wholesale prices rose 0.2 percent in April after a 1.1 percent jump in March, even though the cost for prescription drugs and some food items soared, the Associated Press reported.

The figure reported by the Labor Department was lower than analysts had expected, but the 0.4 percent rise in prices excluding food and energy was double what they predicted. Inflation outside of food and energy has been 3 percent in the past year, the fastest increase in prices for a 12-month period since late 1991.

Food prices remained level in April after rising 1.2 percent in March. Though prices for vegetables fell 4.1 percent and eggs were down 12.3 percent, the cost of rice skyrocketed 17.3 percent.

Energy prices fell 0.2 percent, after a 2.9 percent jump in March, mainly because of the government’s seasonal adjustment methods.

Meanwhile, prices for cars rose 0.4 percent, the cost of prescription and over-the-counter drugs rose 0.7 percent and commercial furniture prices increased by 1.8 percent (the biggest one-month increase since February 1981).