The prices of goods sold online has moved up sharply according to data from MIT. The movement higher has outpaced the Consumer Price Index recently, a possible sign of inflation in the cost of goods sold.
There has been convincing evidence recently that the underlying costs of commodities used in many products sold at retail has moved higher more than expected by most economists. This could well be a sign of upcoming inflation at the consumer level.
The measurement is based on online retail prices as of the start of 2007. The index is 100 at that point. The index has gone from just under 100 in late August to 100.77 recently.
Douglas A. McIntyre
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