U.K. Producer Prices Rise at Fastest Rate in 2 Years

WASHINGTON — U.S. wholesale prices fell for the third month in a row last month, pushed down by falling food and gas costs. The drop is the latest evidence inflation is tame. The producer price index dropped 0.2 percent in December, the Labor Department said Tuesday. That follows a decline of 0.8 percent in November. The index measures price changes before they reach the consumer. Wholesale prices rose 1.3 percent in 2012, much lower than the 4.7 percent increase in 2011. Excluding the volatile food and energy categories, core wholesale prices ticked up 0.1 percent in December.

Ben Bernanke Testifies before the House Budget Committee, US Employment Claims, Trade Balance and Prelim UoM Consumer Sentiment. These are the major events this week. Here is an outlook on the market-movers ahead.The euro rate rose to 2.4 percent in January, the highest in more than two years. In Germany import-price inflation is running at the fastest pace in 29 years, and political tensions in Egypt stir up oil prices. It is nearly inevitable that the ECB will raise borrowing costs before Europe overcomes its debt crisis

The situation in Spain to another sharp turn for the worse. Employment looses are the greatest since 2009, tax revenue is declining, the deficit is increasing and the IIF wants inane tax hikes. GDP Poised to Plunge, Deficit Poised to Rise

(WASHINGTON) — Average U.S. rates on fixed mortgages edged up this week but remained near historic lows. Low rates have helped drive the housing market’s steady recovery. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year fixed loan rose to 3.57 percent from 3.54 percent last week. That’s near the 3.31 percent reached in November, which was the lowest on records dating to 1971. The average rate on the 15-year fixed mortgage increased last week to 2.76 percent from 2.72 percent last week. The record low of 2.63 percent was also reached in November.

(WASHINGTON) — Average U.S. rates on fixed mortgages edged up this week but remained near historic lows. Low rates have helped drive the housing market’s steady recovery. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year fixed loan rose to 3.57 percent from 3.54 percent last week. That’s near the 3.31 percent reached in November, which was the lowest on records dating to 1971. The average rate on the 15-year fixed mortgage increased last week to 2.76 percent from 2.72 percent last week. The record low of 2.63 percent was also reached in November.

* Feb CPI rises 3.2 percent from year earlier * Feb food CPI up 6.0 percent on year * Feb PPI falls 1.6 percent from year earlier

WASHINGTON (Reuters) - Producer prices unexpectedly rose in June despite big drops in energy prices, a sign that some inflation pressures could keep the Federal Reserve on guard. The Labor Department said on Friday its seasonally adjusted producer price index rose 0.1 percent last month. Analysts polled by Reuters expected the index to drop 0.5 percent. The increase was driven by gains in consumer goods like household appliances, light trucks and pet food. That led so-called core inflation, which strips out more volatile food and energy prices, to rise 0.2 percent, in line with expectations.

WASHINGTON (Reuters) - Producer prices were unexpectedly flat in March as a drop in gasoline costs offset rising food prices, according to a government report on Thursday that also showed moderate underlying inflation pressures. The Labor Department said its seasonally adjusted producer price index was unchanged last month after advancing 0.4 percent in February. Economists polled by Reuters had expected prices at farms, factories and refineries to rise 0.3 percent. Wholesale prices excluding volatile food and energy costs rose 0.3 percent after February's 0.2 percent gain. ...