Commodities & Metals

Import Price Inflation Hits Headline Data

Before you panic about inflation in this reading, you might want to consider that many commodity prices have already backed off in recent days.  Still, the reading for commodity import prices rose by 1.3% in the month of March versus…

By Jon C. Ogg
Published April 11, 2012, 8:39am ET · 1 min read

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Before you panic about inflation in this reading, you might want to consider that many commodity prices have already backed off in recent days.  Still, the reading for commodity import prices rose by 1.3% in the month of March versus a Dow Jones consensus target of only 0.9%.  As you might expect, the bulk of the move was oil with the March Petroleum component posting a 4.3% gain for the month and up 9.6% from a year ago.  The non-petroleum components came in at a much more reasonable +0.3% over the prior month and up only 1.4% from a year earlier.  Today’s headline data showed the largest jump in about a year according to the Labor Department.

JON C. OGG

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Jon C. Ogg

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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