Summary
Earlier today, the Labor Department reported that producer prices in September rose 0.1%. Excluding food and energy, the increase was 0.3%. With today's report actually showing a 0.9% decline in the PPI's energy component, one wonders where the spectacular rise in energy prices of recent weeks is hiding. Suggestion: Which is similar to the one I made last month, when the August data were released, to wit: "If you are a producer and your energy costs did not decline in September, invoice Alan Greenspan for the difference!
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Earlier today, the Labor Department reported that during September, the Producer Price Index rose 0.1%. Excluding food and energy -- the so-called "core" rate, for those who think there is something sensible about looking at price levels with these essential items removed -- the PPI was up 0.3% during September.
Year over year through September, producer prices rose 3.3%. For the three months ended September, the PPI was up at an annual rate of 0.3%.
Consumer Producer Import
Price Index Price Index Prices
Month/ ---------------------------------------
Year Y/Y L3Mos* Y/Y L3Mos* Y/Y L3Mos*
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09/04 -Rel 10/19- 3.3% 0.3% 7.8% 8.1%
08/04 2.7% 1.3% 3.4% -1.1% 7.0% 6.4%
07/04 3.0% 3.7% 4.0% 2.2% 5.6% 6.9%
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*Trailing three-month com-
pound annual rate of change.
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NOTE: The latest PPI data will be posted to the "Data & Charts" section of the GRA website.
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