'07 wholesale inflation highest in 26 years

[Lone_Star_Dem]

Source: CNNMoney

Labor Department says soaring energy costs pushed wholesale inflation up 6.3% in 2007.

WASHINGTON (AP) -- Wholesale inflation shot up in 2007 by the largest amount in 26 years, even though falling gasoline costs allowed price pressures to moderate in December.

The Labor Department reported that wholesale inflation was up 6.3 percent for all of 2007, reflecting a huge increase for the year in various types of energy costs ranging from gasoline to home heating oil.

Read more: http://money.cnn.com/2008/01/15/news/economy/bc.economy...

[Gman]

1. 26 years ago would be the 2nd year of the Reagan administration

New home starts are the lowest since the Bush I administration. All these new highs and lows are the highest and lowest since other Republican administrations.

[pattmarty]

3. Oh no!!!!!!!! Are you saying the R's are bad for the economy?

[Lorien]

6. Oh but don't ya know; the bad economy during Reagan's administration was

CARTER'S fault, and the good economy under Clinton was REAGAN policies finally kicking in! And these bad times now? It took seven years for the effects of Clintonism to hit us!



Seriously, I've been told such BS by repugs who simply REFUSE to face facts (and listen to way too much OxyRush).

[UpInArms]

14. that RayGun policy one always makes me laugh out loud!

'cuz they all just kinda skip over the Poppy mal-administration.

[AnneD]

13. These guess who was President when games ...

are getting to be SOOOOOO predictable.

[pattmarty]

15. Luckily we only have a "few" to choose from.

My vote for the worse "bunch" in my lifetime: Nixon (obviously), Reagan (definitely), Bush I (only 4 yrs, whew!) and finally Bush jr (the worst).

[pattmarty]

2. We all know the shit is gonna hit the fan, I just hope it's before the election.

[zanne]

5. Once again...

A Democrat will have to save the country from financial ruin.

[ixion]

4. "even though falling gasoline costs..."

look: going from $3.00 to $2.95 does NOT constitute "falling" gasoline costs. geez.

Besides, they've shot up 25 cents since then.

[Lorien]

7. Falling? It's up to $3,29 here! n/t

[Roland99]

8. Been dropping from $3.19 here down to $2.78 at some stations.

[Lorien]

10. What part of the country?

I'm in Florida.

[Roland99]

11. Louisville, Ky

[ixion]

9. exactly... it's up here, too...

and companies never fluctuate their product prices immediately, so the ever-so-slight decrease in December had no affect whatsoever on wholesale prices, which continue to rise.

[Lugnut]

12. It's hard to not notice that practice.

Crude futures go up a buck and at-the-pump prices jump a dime. Crude futures drop 5 bucks and at-the-pump prices go down two cents. I just filled up at $3.119 per gallon a half hour ago.