Wholesale Prices Jump, Set 32-Year Record

Reversing its two-month drop prior to the November general elections, wholesale gasoline prices shot up in November, helping led an advance in wholesale prices unmatched since November 1974.

Wholesale gasoline prices jumped 17.9 percent, the largest jump since June 2000. And you thought we were kidding when we charted the downward trend in gasoline prices just before the election, eh?

The two-percent jump was four times larger than the predicted 0.5 percent. And even if you substract energy and food from the equation, wholesale prices increased more than they had in any given month in 26 years.