Rising energy costs push US wholesale prices up 03 pct in August

Rising energy costs push US wholesale prices up 0.3 pct. in August; yearly inflation mild by Paul Wiseman, The Associated Press Posted Sep 13, 2013 8:35 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email WASHINGTON – Higher energy costs pushed U.S. wholesale prices up 0.3 per cent last month. Prices rose a modest 1.4 per cent over the past year, the lowest one-year gain since April.Excluding volatile food and energy costs wholesale prices were unchanged in August, the Labor Department said Friday. They were up 1.1 per cent over the past year, smallest gain since June 2010 and another sign that inflation remains under control.Energy prices climbed in late August as tensions rose over Syria, accounting for two-thirds of the monthly increase in wholesale prices. More expensive vegetables and chicken lifted food prices 0.6 per cent in August from July.The Federal Reserve, which meets next week, closely monitors wholesale and consumer prices, determined to keep inflation running at around 2 per cent.Consumer prices in July were up just 2 per cent over the previous year. Core consumer prices have increased 1.7 per cent in the past 12 months.A weak economy has contained inflation. Companies can’t raise prices because demand for their products isn’t strong enough.The Fed’s policymaking committee is expected to decide next week whether to scale back an $85 billion-a-month bond-buying program that is meant stimulate the economy by pushing down long-term interest rates and encouraging borrowing and spending. Some committee members believe the economy has gained enough momentum to justify reducing the purchases though not ending them.But Charles Evans, president of the Federal Reserve Bank of Chicago, has said that he wants to see more data showing economic strength and more evidence that ultra-low inflation is only temporary. read more

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Epiroc Murray Roberts Cementation set for South Africa manganese mine ramp up

first_imgEpiroc has won a significant mining equipment order from contractor Murray & Roberts Cementation, with multiple drill rigs and bolters set to be delivered to the Kalagadi manganese mine in the Northern Cape of South Africa.The equipment, which includes Boomer 282 face drilling rigs and Boltec 235 bolting machines (one pictured), will be used for the underground production build up at Kalagadi, where Murray & Roberts Cementation is the contractor.“The machines will ensure that the mine is operated with enhanced productivity, safety and cost efficiency,” Epiroc said.The orders total more than ZAR160 million ($10.9 million), of which more than half was placed in the September quarter.In addition to the drilling and bolting machines, Epiroc will supply rock drilling tools, spare parts and on-site service support to back up Murray & Roberts Cementation.According to a Business Day report from earlier this year, the Kalagadi mine is expected to generate 3 Mt/y of ore to convert into 2.4 Mt/y of sinter at full capacity.last_img read more

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