An increase of 0.8 percent in the Producer Price Index for the month of September suggests inflationary prices in the U.S. remain a concern. Predictions for the month called for a PPI increase of only 0.2 percent but sharp hikes in the price of gasoline, food, and automobiles pushed the index much higher than expected.
“With the slowdown in global economic activity, it’s hard to make the case that prices will accelerate more meaningfully from here,” said Tom Porcelli, chief U.S. economist at RBC Capital Markets Corp. in New York, who correctly projected the increase in core prices.
Source: Bloomberg
The US Labor Department said today that inflation at the wholesale level jumped 1.8 percent in November, nearly doubling the prediction of a 0.8 percent increase. This unexpected increase will no doubt make the agenda at the Federal Reserve’s two-day interest rate meeting starting today.
Associated Press
The US Labor Department said today that inflation at the wholesale level jumped 1.8 percent in November, nearly doubling the prediction of a 0.8 percent increase. This unexpected increase will no doubt make the agenda at the Federal Reserve’s two-day interest rate meeting starting today.
Associated Press
New car sales helped push US retail sales to a gain of 1.4 percent in October, beating handily the expected 0.8 percent increase. However, when auto sales are removed from the calculation, retail sales only rose 0.2 percent suggesting that overall, consumer spending is still far below historical levels and leaving some analysts to question the likelihood of the recovery to maintain momentum.
Associated Press
Statistics Canada reported today that Retail Sales rose by 0.8 percent in August to $34.5 billion (USD$32.9 billion) due largely to an increase in gasoline prices and new car sales. Without gasoline and car sales included in the total, retail sales would have registered only a 0.4 percent increase.
Yahoo News
