PPI: Inflation Remains the Bogeyman

By Jon C. Ogg Updated Oct 29, 10:32AM EDT · Published Oct 29, 8:45AM EDT

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Inflation is just not appearing in the broad economic numbers. A fresh report from the U.S. Department of Labor actually is not that fresh, but it is the most recent report on inflation because of a delay from the federal government shutdown. The Labor Department reported that the Producer Price Index (PPI) fell by 0.1% on the headline PPI in September. The ex-Food and Energy PPI, the core PPI, rose by 0.1% in September.

Bloomberg had estimates for a 0.2% gain on the headline, with the core PPI expected to be a gain of only 0.1%.

What this report means is that the fear inflation is still just a fear. The numbers are not showing inflationary pressures. The long and short of the matter is that this gives Ben Bernanke, and Janet Yellen, room to keep buying up $85 billion worth of Treasuries and mortgage-backed securities until the end of days.

We would encourage readers to remember that this is the start of a two-day FOMC meeting.

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About the Author 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.