Wholesale Inflation Remains Muted
The Labor Department has released the September Producer Price Index, the measure of wholesale inflation. We did see a slightly raised Consumer Price Index last week and that had many of the inflation bugs on edge for the wholesale data. …
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This figure reflected a 2.4% drop in energy prices during September after a gain of a sharp 8% the previous month. Wholesale inflation generally has to heat up before the costs get passed down to the consumer level. This does not of course take $80.00 oil into consideration, but so far inflation is tame higher up in the supply chain level.
Now all Ben Bernanke and friends at the Federal Reserve have to do to validate the near-zero rate policy is to point to this data.
Jon C. Ogg
October 20, 2009
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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.
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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.
