February PPI Tamer
We just got the Labor Department data on producer prices as a measurement of wholesale inflation. PPI came +0.1% on the nominal PPI and +0.2% on the core PPI reading of an ex-food and ex-energy basis. PPI was expected to…
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We just got the Labor Department data on producer prices as a measurement of wholesale inflation. PPI came +0.1% on the nominal PPI and +0.2% on the core PPI reading of an ex-food and ex-energy basis. PPI was expected to be +0.4% nominally and expected to be +0.1% for the core reading on an ex-food and ex-energy basis.
Intermediate goods and raw materials prices both came down again down for a seven month consecutive decline. The good news is that these numbers are still very low. They are also not deflationary on the producer level as many have worried about.
JON C. OGG
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.