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Tag Archives: PPI

More Inflation Pain: Producer Prices Chart Biggest Increase Ever

The mainstream seemed to take the March CPI data as good news. With core CPI coming in below expectations, the narrative is that we’ve probably hit peak inflation. But the producer price data that came out yesterday tells a different story.The Producer Price Index (PPI) was up 1.4% month-on-month. On an annual basis, producer prices rose 11.2%. Both numbers were higher than expected and set all-time records.Stripping out more volatile food and energy prices, the core PPI was up 0.9% from...

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More Inflation Coming Down the Pike; Producer Prices Up Big Again

In another sign that the inflation train is far from running out of steam, producer prices were up big again in February.The Producer Price Index (PPI) for final demand surged 0.8% month on month. This was close to the expectation. The annual increase in producer prices came in at 10%, tying the all-time record.And this has nothing to do with Russia. The February PPI data did not capture the price increases in oil and other commodities after the Russian invasion of Ukraine.Stripping out...

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Producer Price Increase Doubles Expectations in January

Federal Reserve Chairman Jerome Powell “retired” the word “transitory” as it relates to inflation back on Nov. 30. Just two-and-a-half months later, we’re seeing a new word bandied about to describe inflation — persistent.Less than a week after the January CPI data came in even hotter than anticipated (again), we got yet another signal that persistent is a much better word for the inflation situation. Producer prices (PPI) doubled expectations, charting the biggest increase in eight...

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A Runaway Inflation Freight Train the Fed Won’t Stop

The producer price index rose at the fastest rate in the history of the data set in November. This is a runaway inflation train hurtling down the tracks toward consumers. And despite all the talk, the Fed won’t be able to stop it.The Producer Price Index (PPI) rose by 0.8% month-on-month in November. The expectation was for a 0.5% gain. Year on year, producer prices were up a whopping 9.6%. That was the biggest increase since the series was revamped in 2010.This comes on the heels of...

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Peter Schiff: Double-Barrel Inflation Is Locked and Loaded

The Consumer Price Index blew past expectations in October as the “transitory” inflation narrative continues to unwind. CPI was up 0.9%. On an annual basis, the inflation rate was 6.2% compared with a 5.9% estimate. It was the highest annual CPI gain since 1990. The CPI stole the headlines, but the Producer Price Index also came in hotter than expected, up 8.6% on a year-on-year basis.  After the PPI came out, Peter Schiff appeared on to talk about it.He said double-barrel inflation is...

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Peter Schiff: You’re Going to Be on the Hook for Rising Producer Prices

Much hotter than expected CPI data for October stole the spotlight on Wednesday, but there was more bad news on the inflation front that received less attention. The annual Producer Price Index (PPI) increase in October tied September’s record, as rising producer prices continue to undercut the “transitory inflation” narrative.The PPI charted a 0.6% month-on-month increase with the annual rate up 8.6%. That tied last month’s record-setting rise in producer prices. If you annualized...

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They Expected Inflation to Come in Hot in October; It Came in Sizzling

The consumer price index was expected to come in hot yet again in October. It came in sizzling.The actual CPI numbers for last month were even hotter than expected as “transitory” inflation remained well above 5% on an annual basis for the sixth straight month.The projection was for the CPI to be up 0.6% month-on-month. That would have been a significant increase. But the actual number was even higher, with CPI up 0.9%. On an annual basis, the inflation rate was 6.2% compared with a 5.9%...

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Producer Prices Undercut Transitory Inflation Narrative

While the CPI numbers came in around expectations in July, the producer price data came in hotter than expected for the seventh straight month, putting a damper on the notion that “transitory” inflation might be cooling.PPI was up 1% in June. The projections for July were for a 0.6% increase — still a big number, but cooling somewhat. Instead, the July PPI was once again up 1%. It not only exceeded expectations, but it exceeded the upper bound of expectations. Year over year, the...

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Peter Schiff: Make No Mistake the Fundamentals Are Still Bullish for Gold

Gold and silver got pummeled on Tuesday. The price of gold dropped more than 5%, falling far below the $2,000 level. It was the worst single-day rout in seven years. Gold continued to fall in Asian trading Wednesday morning and briefly dropped below $1,900 before clawing back later in the session. Silver also had a precipitous fall, diving some 13%.Peter Schiff talked about the sell-off during his podcast. He said we shouldn’t lose sight of the fundamentals and they’re still bullish for...

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The Central Focus of China——-Still Another Monetarist Failure

For most of the world’s inhabitants, so long as they reside connected to some form of modern economy inflation is an unwelcome event even in the smallest doses. Central banks have made it their very business to control it, or at least its form in consumer prices, in order that their assessment of the Great Depression might not be ever repeated. From that mistaken view of history, which only serves to carve out a more than technical role for economists within the political structure, almost...

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