Wholesale Prices, Unemployment Claims Head Up, Retail Sales Fall In April
Well, here’s your triple dose of troubling economic news today: wholesale prices, led by food and gasoline costs, are surging higher, up another 0.7 percent just in April, after a 0.5 percent increase in March. Second, retail sales dropped unexpectedly in April by 0.5 percent. And for good measure, first-time filings for unemployment claims went up last week by 13,000, exceeding expectations.
So much for Sir Alan waiting until after the election to raise interest rates.