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Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 17 September 2012 [View all]Demeter
(85,373 posts)18. Wholesale Prices in U.S. Rise Most in Three Years on Oil
http://www.bloomberg.com/news/2012-09-13/wholesale-prices-in-u-s-rise-most-in-three-years-as-oil-surge.html
Wholesale prices in the U.S. increased in August by the most in more than three years, reflecting a surge in energy costs.
The producer price index climbed 1.7 percent after an increase of 0.3 percent in July, the Labor Department reported today in Washington. The median estimate in a Bloomberg survey of 79 economists called for a 1.2 percent gain. Core wholesale inflation, which excludes volatile food and energy prices, rose 0.2 percent, in line with forecasts.
Companies may find it difficult to pass on higher energy costs as the global economic slowdown and so-called fiscal cliff of higher taxes and government spending cuts prompt their customers to limit spending. The absence of broad-based price increases gives Federal Reserve policy makers, who meet today, room to provide more monetary stimulus for the economy.
The gain in producer prices was the biggest since June 2009 and reflected the biggest jump in energy costs in three years...
Wholesale prices in the U.S. increased in August by the most in more than three years, reflecting a surge in energy costs.
The producer price index climbed 1.7 percent after an increase of 0.3 percent in July, the Labor Department reported today in Washington. The median estimate in a Bloomberg survey of 79 economists called for a 1.2 percent gain. Core wholesale inflation, which excludes volatile food and energy prices, rose 0.2 percent, in line with forecasts.
Companies may find it difficult to pass on higher energy costs as the global economic slowdown and so-called fiscal cliff of higher taxes and government spending cuts prompt their customers to limit spending. The absence of broad-based price increases gives Federal Reserve policy makers, who meet today, room to provide more monetary stimulus for the economy.
Outside of energy, producer prices for the most part are pretty contained, said Omair Sharif, a U.S. economist at RBS Securities Inc. in Stamford, Connecticut. I dont think the Fed is going to be too concerned. The Fed is going to take todays report as consistent with their view that the run-up in energy is transitory.
The gain in producer prices was the biggest since June 2009 and reflected the biggest jump in energy costs in three years...
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