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        Wholesale Inflation Rises At Fastest Rate In 27 Years | The Study of Economics

        GLENDALE, CA - AUGUST 19: Watermelons are on display for shoppers in a large chain food store August 19, 2008. According to the Labor Department, wholesale prices went up 1.2 percent in July as prices rose at the fastest pace in 27 years, more than double the 0.5 percent gain that economists expected. The price of food rose 0.3 percent in July after a 1.5 percent surge in June. In the biggest increase in nearly four years, beef prices were up 7.4 percent, and milk made the biggest gain in a year at 5 percent. Consumers also paid more for passenger cars and light trucks, pharmaceutical preparations and plastic products.

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