Good News for Consumers: Wholesale Inflation Not Being Seen
Inflation is taking a ride in the backseat, again. The Labor Department said that July’s wholesale inflation measured by Producer Price Index came in at -0.9% on the nominal or headline rate, while the ex-food and energy Core PPI came…
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We had penciled in target consensus figures of -0.3% to -0.4% on the headline number and had penciled in +0.1% expected on the core reading.
This is important to see because the producer side of the economy tends to lead the consumer side of the reports. If wholesale inflation continues for several months, then consumer inflation often comes behind it. But no inflation for producers and a weak economy is good news for what prices Joe Consumer will have to pay.
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.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
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.
