Prices at the wholesale level rose 1.4 percent last month, the Bureau of Labor Statistics said this morning. That's an 18 percent annual rate, if anybody's counting. Not to worry, however, says the AP story on the producer price index. Not counting food and energy, inflation rose only 0.2 percent last month. The moderate increase in the "core" rate "suggested that other prices were fairly well behaved," AP said.

My car fuel tank is almost empty, so I think I'll fill it up with Windex, one of those "core" items that's not inflating. Then on the way home I'll pick up a pair of pants to cook for dinner.

Energy prices jumped 4.9 percent in May, also the biggest rise since November. Diesel fuel prices galloped by 11.2 percent, gasoline prices were up by 9.3 percent and home heating oil increased by 8 percent.

Food prices also rose sharply. They increased by 0.8 percent in May, after being flat in April.

In May prices for pork went up 8 percent, the most since September 1999. Prices for fruits and melons rose 5.9 percent, the most since December. Prices for beef and veal, natural cheese and certain confectionary goods also posted sizable increases.

There are fears that eventually these energy and food costs will force companies to boost prices for lots of other goods and services, spreading inflation through the economy.