Import Prices Rise 2.3% (largest increase ever for a month)

[papau]

Import prices were expected to rise 1 percent in Sept 05 - guess we guessed incorrectly. CPI report this Friday and PPI Oct 18 should be interesting (they are expecting CPI= 0.9% or a 10.8% pace annually - the largest since Bush 41 in 1990 - as 3rd qtr GDP growth is estimated at 3.6%).


http://quote.bloomberg.com/apps/news?pid=10000006&sid=aBLJNTFkJB9k&refer=home


U.S. Sept. Import Prices Rise 2.3% as Oil, Gas Soar (Update2)

Oct. 13 (Bloomberg) -- Prices of goods imported into the U.S. posted their biggest gain since 1990 in September, led by rising crude oil and natural gas prices after two hurricanes struck the U.S. Gulf Coast.

Import prices jumped 2.3 percent, more than forecast, after a 1.2 percent gain in August, the Labor Department said today in Washington. Excluding petroleum, prices rose 1.2 percent, the largest since record-keeping started in January 1989 because of increases in natural gas prices. <snip>

Prices for all imported goods last month were 9.9 percent higher than in September 2004, compared with a 7.9 percent year-on- year increase in August. Excluding petroleum, prices were up 3.0 percent in the last 12 months. The ex-petroleum figure includes natural gas, which increased 29 percent. <snip>

Prices for industrial supplies excluding petroleum rose 5.0 percent, led by higher prices for natural gas, after increasing 0.5 percent the month before. The cost of imported capital goods were unchanged for a second previous month. Those prices are down 0.3 percent from a year earlier. <snip>

[Burried News]

1. Went to the grocery store, the cheapest juice was a gallon bottle

of a noname brand for $3.00. It was from China. I noticed when gov't inflation figures were released a few weeks ago it was mentioned that food and energy costs were not included. Somebody makes more money shipping juice to NC from China than they would if they bought it from apple growers here. Cartel - ConAgra, Archer Daniels Midland et al.

PS In an out of the way article in the business section it mentioned all Gulf pipelines have been restored yet gas prices have gone up slightly here. Cartel - Standard oil - spinoffs - name changes to confuse the innocent.

Will the reinstitution of the Sherman AntiTrust Act be on the Democratic Party Platform? When pigs fly.

[papau]

2. The media owners like "greed is good" and will dump on Dem's that

attempt "too much" reform.