Here are the facts:
- Producer prices have increased by 7.2% in the last year.
- Producer prices have increased by an annual rate of 8.2% in 2011.
- Food prices have increased by 7.7% in the last year.
- Energy prices have increased by 17.9% in the last year.
http://www.bls.gov/news.release/pdf/ppi.pdf
The shills on CNBC need to explain how corporate profits are going to go up if the companies are eating these cost increases rather than passing them along to consumers. If they are passing them along to consumers than we have 7% inflation and interest rates need to be raised. Which is it Kudlow and Cramer?
The consumer price index, even with the BLS bullshit adjustments, is showing inflation. Here are the government reported figures:
- The CPI has risen by 3.6% in the last year.
- The CPI is rising at an annual rate of 4% in the last three months.
- The CPI is rising at an annual rate of 5.3% so far in 2011.
- The annual price increases for food are as follows:
- Meat up 7.4%
- Dairy up 7.9%
- Fruits and vegitables up 6%
- Fats and oils up 10.4%
- The annual price increases for other things you might use are:
- Fuel oil up 29%
- Gasoline up 33.6%
- Transportation up 12%
- Water, sewer and trash up 5.1%
http://www.bls.gov/cpi/cpid1107.pdf
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2 comments:
Save negative 9 dollars?
It costs more in that ad!
Am I the only one who noticed?
Daddio, you're right, it should read "Save $-10" !
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