Today's PPI:
The Producer Price Index for Finished Goods rose 0.8 percent in November, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today.
That's NINE POINT SIX%, annualized.
Don't like that 9.6 number?
OK, then how about the last two months?
This increase followed a 0.4-percent advance in both October and September.
Knock out the current report and you have 4.8% inflation.
HT: Ticker
I don't like either. You dont take this months ppi and multiply by 12 nor do you cherry pick the last 2 months because it proves your point. You take the previous 12 months of actual data to determine year over year data. Could you imagine what your readers would say liberals used ticker's logic to determine global temps. In an attempt to prove global warming? Come on.
ReplyDeleteTicker needs to calm himself down and revisit basic econ.
Yah?
ReplyDeleteJust adding up the "food" category gives us 4.8% for the last 12 months.
(No calculators were demolished....)
That's certainly more than personal income gains last 12 months, and greater than GDP growth--especially if you exclude Gummint spending/transfers.
I agree. And something to be watchful of. But again, take that 4.8% gain in the last year along with the previous couple years and things look relatively calm. Food prices dropped jn tjise years quite a bit. But definately something the Fed. Is watching.
ReplyDeleteThe Fed is watching the Treasury printing presses. The goal is to inflate debt away and it is a dangerous game.
ReplyDeleteIm waiting for your CPI and core CPI blog post dadster. You know, since both statistics came in at .01 increase month over month and core is approaching zero year over year. Seems producers are having a difficult time passing on higher commodity prices. Which was predictable of course but runs contrary to certain political ideologies so it isnt reported on in certain circles.....ever.
ReplyDeleteNeo, you are correct actually. The Fed. is attempting to devalue the dollar thus boosting exports, boosting growth and lowering unemployment. Its not dangerous. It the standard mechanism of adjustment in a floating currency system.
ReplyDelete