Briefs for Saturday

WASHINGTON – U.S. wholesale prices rose 0.3% in December led by the biggest jump in energy costs since June.

The Labor Department reported Friday that the gain in its producer price index, which measures inflation pressures before they reach consumers, followed a modest 0.1% gain in November and matched the 0.3% rise in October.

The December increase reflected a 5.5% surge in energy costs, the biggest gain since a 9.6% jump in June. That offset a 0.1% drop in food costs, the first decline since August.Gasoline prices rose 16.1% in December and accounted for nearly half of the increase in goods prices last month.

Over the past 12 months, inflation at the wholesale level has risen a modest 0.8%. The government reported Wednesday that consumer inflation was also well-behaved last year, rising just 1.4% over the past 12 months.

Pandemic slams fishing industry

The coronavirus pandemic has taken away about a third of the commercial fishing industry’s revenue, according to a federal report released on Friday.

The National Oceanic and Atmospheric Administration said revenues from catch brought to the docks by commercial fishermen fell 29% over the course of the first seven months of the year. Revenues declined every month from March to July, including a 45% decrease in July, the report said.

The NOAA report said the seafood industry at large has been hit hard by restaurant closures, social distancing protocols and the need for safety measures. NOAA’s findings back up earlier reports from independent scientists that said seafood harvesting and consumption were both down.

From wire reports