Wholesale prices surge in June from mild May

Wholesale prices rose by nearly 1 percent in June after an increase of only 0 .3 percent in May, the Labor Department said Tuesday. The jump brought the annual rate of increase to nearly 10 percent, up from about 3.5 percent in May, and left prices 13.3 percent higher than a year earlier.

Increases in the prices of food, jewelry, and cars led the June increase, as the price of refined petroleum products fell slightly for the first time in more than two years.