Ahead Of The Bell: US Wholesale Inflation
The government will issue its October report on consumer prices on Thursday. In September, consumer prices rose 0.6 percent. That gain reflected the big jump in gas prices. Excluding food and energy costs, consumer prices inched up just 0.1 percent in September.
The 0.2 percent rise in food prices at the wholesale level in September was the smallest change since prices dropped for two months in April and May. In June, July and August, prices showed larger gains, reflecting in part this year's severe drought in the Midwest.
That has raised the price of corn, soybeans and other grains. Corn is used in animal feed and most products found in the supermarket, from cereal to cosmetics. More expensive corn prices can push up beef and pork prices because corn is an ingredient in animal feeds.
Gas prices averaged $3.44 a gallon nationwide on Tuesday, down 35 cents from a month ago, according to a survey by AAA's Fuel Gauge.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV