Trade Deficit Reaches High; Wholesale Prices Rise Slightly.

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Economy

• Economy.

Wholesale prices rose 0.1 percent in July, the Labor Department reported today. Last month's Producer Price Index increase followed a 0.3 percent decline in June as price pressures at the wholesale level have shown a moderation over the past two months following sizable increases earlier this year. Last month's sharp turnaround reflected higher gasoline costs, which rose by 5.4 percent in July after having posted a 5.2 percent decline in June. Meanwhile, the U.S. trade deficit surged to an all-time high of $55.8 billion in June, the Commerce Department reported. That figure was up from a revised May deficit of $46.9 billion.