Summary Box: Wholesale prices rise last month

AP News
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Posted: Mar 16, 2011 3:31 PM

WHOLESALE PRICES JUMP: Higher gas costs and the sharpest rise in food prices in nearly 40 years drove wholesale prices up in February by 1.6 percent. That's the largest gain since June 2009. Most of the food price increase was due to harsh winter weather in several southern states.

INCREASES CONTINUE: Still, most economists expect food prices to keep rising for the rest of this year, following sharp increases in the cost of corn, soybeans, and other agricultural commodities since last summer.

LESS SPENDING: The increases could cut into consumer spending and limit economic growth this year.