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Unfortunately, the upward trend is continuing unabated. The “producer price index” is essentially the tracking of wholesale prices at three stages: Origination (commodity), Intermediate (processing), and then Final (to wholesale). Today, the Bureau of Labor and Statistics (BLS) released December price data [ Available Here ] showing a dramatic 9.7% increase year-over-year in Final Demand products at the wholesale level. I’m not going to beat this dead horse { Go Deep Here }, except to point out a few even larger warning signs that are evident. Suffice to say, despite the spin likely from defenders of the White House occupant, the inflation impact is continuing exactly as we would expect .
The monthly price increase was 0.2% which would under normal circumstances give the impression that price pressure for the month was lower than previous. However, there’s a key component clouding the problem.
As noted by the BLS, “ A major factor in the December decrease in prices for final demand goods was the index for gasoline, which moved down 6.1 percent. ” Gas prices momentarily dropped in the December capture of pricing; this has skewed the data considerably. As a consequence, the energy costs measured in December looked like they dropped 3.3 percent.
You are well aware that gasoline has jumped back up in price in the past few weeks. Additionally, total energy costs to you have not dropped at all. In the background of this momentary skew, the costs of final demand goods after the energy impact rose .04% in December.
The momentary drop in gasoline and diesel fuel in December gives an artificial outcome in the data for all three stages. Oil prices are back on the climb, and the prices of the goods and services overall to consumers have not reflected any decrease; factually they have increased even more.
The […]
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I hate being “that guy” who asks people to donate because I think our conservative news network is so crucial, but here I am…
When I left my cushy corporate job in 2017, I did so knowing that my family would have to make sacrifices. But I couldn’t continue to watch the nation slip into oblivion and was inspired by President Trump’s willingness to fight the good fight even at his own personal expense. What I didn’t realize then is that conservative media would be so heavily attacked, canceled, and defunded that the sacrifices would be extreme.
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