Producer Price Index Rises More Than Forecast

As I pointed out in post #16, the annualized rate for the previous 12 months was 2.2%.

 

Conceptually, I agree with you, but with all of the upward pressure over last 6 months or so I think it would be safer to treat it as a trend for now. We should know about any adjustments around the same time as May numbers so we should find out rather quickly whether it is or isn’t a trend

 

Yes, but where does that mean that .5% in May is not a surge.

 

They adjusted the March numbers to -0.1%.

 

It’s actually more than 6% annually due to monthly compounding.

 

Thank God it's transitory. Another decade or so and we'll have this locked down.

 

My 7yo loves red baron brick oven pizza. Was 2.99. ( which is why I used to get it ). Now 5.92 at Publix today. It’s still cheaper than most which have gone closer to 8/9…

anecdotal anecdotal.

 

PPI (the subject of this thread) is at 2.2%. That is pretty much what we are looking for.

 

Based on this thread, it’s a good thing or maybe a bad thing, depending on your math skills.

 

3 things with Biden are certain:

death (Covid); taxes (way up); inflation (ain't going anywhere)

 

I know, right? Who am I going to believe: a Federal Government bureaucracy's statistic (in an election year) or my lying pocketbook? Hmmmmm....

 

I know right? Those pizzas were so cheap when Obama was in office

 

Yes it was higher than expected. It's also single month. The markets do not think it's an indicator of trend.
https://www.wsj.com/livecoverage/stock-market-today-dow-jones-05-14-2024
Why experts aren’t panicking about the latest jump in producer price inflation
The PPI has good news for the Fed. S&P 500 rises ahead of the CPI

 

Reminds me of Trump in 2016 and 2017. The stats were phony when Obama was in office but suddenly became reliable after Trump took office even though the source was the same "Federal Government bureaucracy".
19 times Trump called jobs numbers ‘fake’ before they made him look good

We may assume President Trump is quite pleased with the strong jobs report from his first full month in office: He retweeted the Drudge Report's triumphant “GREAT AGAIN” framing of the numbers Friday morning, after touting employment figures released by payroll firm ADP earlier in the week.

Not so long ago, however, Trump's view of the monthly jobs report, which comes courtesy of the nonpartisan federal Bureau of Labor Statistics, was markedly different. As recently as December, he described the report as “totally fiction.”​

 

Lies, damned lies, and statistics. Mark Twain/Benjamin Disraeli

 

The pocketbook isn't what lies. But people are prone to all sorts of biases. That is why we utilize data rather than feelings, which is the apparent alternative.

 

100% agree with your statement. Remember, people create data...with all their biases.
"Data" is presented as pure and untainted and it is anything but. (as shown by my OP "Science - who's on first?")

 

Honestly, that's most likely a Publix thing. They've gone loco compared to everyone else

 

This data is based on a consistent set of methods over time, regardless of the number that it pops out. The headline numbers are themselves based on consistent, sector/product-specific data that also has a consistent set of methods.