Wholesale Inflation Increases.

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Wholesale inflation inched up in May while falling prices for a variety of foodstuffs blunted rising electricity and heating oil costs, the Labor Department reported today. The government's Producer Price Index, which measures inflation pressures before they reach store shelves, following on the footsteps of a modest 0.3 percent increase in April, the PPI crept up to a seasonally adjusted 0.1 percent last month. The latest reading on wholesale level inflation was better than the 0.3 percent increase many analysts were predicting. The "core" rate of wholesale inflation, which excludes volatile energy and food prices, edged up for the second month in a row by 0.2 percent.