Prices Go Up At Wholesale 0.8 Per Cent: Wholesale Prices Rise 0.8 Per Cent
A sharp jump in farm prices sent April wholesale prices soaring to their highest monthly rate, 0.8 per cent, since October, the Department of Labor reported yesterday.	economy	despite	a substan-</br></br>Alan Greenspan, chairman of the Council of Economic Advisers, said that nearly all the April increase was due to farm and food prices. He said that since data were collected for the April wholesale price index, food prices have ÛÏstabilized.Û</br></br>Wholesale prices are prices businesses charge other businesses, but changes in wholesale prices are often a precursor of eventual changes in the prices consumers pay.</br></br>Even though wholesale price increases are adjusted to account for regular seasonal variations, food prices lend to jump around more readily in response to temporary factors than industrial prices. As a result, economists look more carefully,at industrial prices because they have a longer-lasting impact on the overall price level.</br></br>Nevertheless, the 0.8 per cent wholesale price rise last month, which works out to an annual increase of 10 per cent, stands in contrast to the prior five months, when wholesale prices rose little or, as in January and February, fell.