Tuesday :: Nov 16, 2004

With Election Now Safely Behind Us, Producer Prices Register Biggest Increase Since 1990

by Steve

How convenient. In the first Producer Price Index report since the election, wholesale prices “suddenly” shot up 1.7% in just the month of October, the largest increase in almost 15 years. The biggest culprits in the increase were the sharply higher costs for food and energy, costs that have been increasing all during the recent months, but only now are reflected in a major increase in the PPI. I mean, for how many months now has oil cost more than $40 a barrel, and it is just now showing up in the PPI?

Am I the only person who finds this “sudden” increase in the PPI, based on costs that have clearly been higher for months, to be a little politically suspicious?

Steve :: 8:56 AM :: Comments (26) :: Digg It!