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Wed Feb 19, 2020, 10:52 AM

US wholesale prices up 0.5% in January, most since late 2018

Source: AP

By PAUL WISEMAN

WASHINGTON (AP) — U.S. producer prices climbed last month at fastest pace since October 2018 as higher prices for services more than offset a drop in the cost of energy.

The Labor Department said Wednesday that its producer price index, which measures inflationary pressures before they reach the consumer, jumped 0.5% in January after rising 0.2% in December. The monthly increase was much bigger than economists expected.

Over the past year, wholesale prices are up 2.1%.

Excluding volatile food and energy prices, so-called core producer inflation rose 0.5% in January from December and 1.7% from January 2019.



FILE - In this Feb. 5, 2020, file photo workers sort through tomatoes after they are washed before being inspected and packed, in Florida City, Fla. On Wednesday, Feb. 19, the Labor Department releases the Producer Price Index for January. (AP Photo/Wilfredo Lee, File)


Read more: https://apnews.com/3d483c86b00b430c92f71079484e20fc

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Reply US wholesale prices up 0.5% in January, most since late 2018 (Original post)
Omaha Steve Feb 19 OP
Yavin4 Feb 19 #1
lonely bird Feb 19 #5
Yavin4 Feb 19 #6
SunSeeker Feb 19 #2
sandensea Feb 19 #4
SWBTATTReg Feb 19 #3
maddogesq Feb 19 #8
SWBTATTReg Feb 19 #9
CountAllVotes Feb 19 #7

Response to Omaha Steve (Original post)

Wed Feb 19, 2020, 11:07 AM

1. Yep. Inflation is the price we're paying for this "great" economy.

Sure, anyone can get a job, but it doesn't pay enough to live. We're just working to be working.

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Response to Yavin4 (Reply #1)

Wed Feb 19, 2020, 02:32 PM

5. Ex-fucking-actly

We do not have economic growth. We have inflation and hot money moving around the world seeking returns.

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Response to lonely bird (Reply #5)

Wed Feb 19, 2020, 02:55 PM

6. Luxury real estate. Venture capitalists chasing every dumb startup on the planet.

Over-sized yachts. You name it. Money being created and wasted.

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Response to Omaha Steve (Original post)

Wed Feb 19, 2020, 11:35 AM

2. Yikes. I remember the inflation of the 70s.

Once inflation starts, it kinda feeds on itself.

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Response to SunSeeker (Reply #2)

Wed Feb 19, 2020, 02:16 PM

4. And of course Dubya's double-digit special

Special because real inflation would periodically spike to 10% or more (in 2005 and 2008) - but, according to Dubya, it would always be "3.3%."

A nod to his Masonic brethren?

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Response to Omaha Steve (Original post)

Wed Feb 19, 2020, 02:06 PM

3. Yep, they artificially goosed the economy w/ the 2017 tax cut and jobs (what jobs) bill ...

despite leading economists saying that we didn't need this. All this bill did is cut the taxes of the 1%ers and no one else. And guess what? They (rump and cronies) are harping on a new tax cut bill (yeah, sure) for the rest of us.

So, we're losing even more and more, we'll (the rest of us NOT in the top 1% class) have to pay off the deficits and also lose ground in the value of our few remaining dollars to buy stuff, as it becomes more and more expensive (the billionaires and millionaires aren't making, gulp!, enough money as it is). This should tell quite a few people just who rump really cares about.

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Response to SWBTATTReg (Reply #3)

Wed Feb 19, 2020, 03:16 PM

8. Add to that artificially...

inflated stock market thanks to cheap money , consumer debt up the wazu, widening income inequality, we have a brewing time bomb that, IMHO, could lead to another 2007 style dumper.

The Fed put itself in a box keeping these rates so low for so long. And then there’s Econ 101 dropout Donny who wants lower rates...sheesh...

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Response to maddogesq (Reply #8)

Wed Feb 19, 2020, 05:05 PM

9. Absolutely. And I get tired of listening to everyone gripe about getting only .05 % (1/2 of 1 ...

percent) on their savings, etc. The savers in this country, are what are fueling these insanely low rates. Business loans and / or business debt is another whopper to drop too (in your 2007 style dumper comment), I hear that these are a big concern too. I think personally that something has to let go, and let the interest rates float as they should, instead of being kept low artificially. There needs to be a reckoning w/ high debt everywhere (business and personal), and perhaps a debt crisis = better interest rates on our savings + bad loans get cleared out ?

Pull one brick out and ...

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Response to Omaha Steve (Original post)

Wed Feb 19, 2020, 03:15 PM

7. K&R

I never thought I'd see the day when hamburger would cost almost $6.00/lb.

The cost of pet food has almost doubled. I'm sure I'm not the only one that has noticed this!

& recommend.

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