Producer Price Inflation: Inflation Inferno: Producer Price Index Shows Prices Rising Much More Than Expected (breitbart.com) A key gauge of inflation surged by much more than expected in April, confirming that the pace of inflation has accelerated. The producer price index for final demand, which measures the prices paid to U.S. businesses for their goods and services, rose by 2.2 percent in April, the Department of Labor said Thursday. Compared with a year ago, the index is up 2.2 percent, the largest increase in a year. Economists had forecast a 0.3 percent gain in April compared with March and a 2.2 percent gain year-over-year.
So they forecast a 2.2% annual increase, it was a 2.2% annual increase, and that is "far more than expected?"
The PPI went up 2.2% in one month, April, when they were forecasting 2.2% year over year. The forecast for April was .3%.
No it didn't. It went up by 0.5% in the month (from a downwardly revised -0.1% in the previous month). It went up 2.2% for the year. Producer Price Index Home
And the last month adjustment was -0.2% from the forecast. That is how a higher monthly reading doesn't change the annual change.
Wholesale prices rose 0.5% in April, more than expected KEY POINTS The producer price index, a measure of what producers receive for the goods they produce, increased 0.5% in April and was up 2.2% on a 12-month basis, the biggest gain in a year. The core PPI also rose 0.5% compared with the 0.2% Dow Jones estimate. Services prices boosted the wholesale inflation reading, climbing 0.6% and accounting for about three-quarters of the headline gain.
If you mean only post sources you like, the answer is no. I'll admit the article was written in confusing fashion, confuse me the way written, but Breitbart is a good source. As a matter of fact, I find CNN despicable, but I'm getting ready to post one of their videos.
Sub 2% inflation from 2009-2020 is an aberration. Consumer Price Index, 1913- | Federal Reserve Bank of Minneapolis with current deficits running 6% of gdp, a tight labor force driven by demographics, deglobalization etc it isn’t likely we see sub 2% again, unless we experience some major technological breakthroughs - which is possible.
Yeah, it's just a bit too much pants on fire. Everybody knows we have too much inflation, but that was over the top as written. Likely somebody wanted to get it out fast over accuracy.
[as does cnn and msnbc. QUOTE="rivergator, post: 16481017, member: 5578"]Breibart knows who it’s audience is[/QUOTE]
From a more objective albeit still conservative source. https://www.investors.com/news/econ...il-health-care-core-pce-fed-rate-cuts-sp-500/
When you’re expecting .2 and you get .5, that is a surge. When you annualize the .5, it is 6%, that is a surge. We don’t know at this point in time that the .5 will continue and annualize at 6%. But we do know that in our most recent month, we ate up 25% of the target in 8% of the year.
Assuming it doesn’t get adjusted down again. Even if it doesn’t, It’s one data point among a whole lot for the year. Having said that, before long we will be past “minimal data points” and into a trend. Powell today even softened his tone again on the possibility of more inflation, though still not predicting rate hikes.