U.S. Producer Prices Jump 6.5%, the Steepest Rise Since Late 2022
U.S. October PPI Rises 6.5% YoY, Highest in Nearly Four Years
U.S. producer prices climbed 6.5% year over year in October, the highest since November 2022, edging past the prior 6.3% but just under the 6.6% forecast. Month over month, PPI rose 0.3%, below the expected 0.4%, while September's reading was revised up from 1.3% to 1.4%.
U.S. producer prices rose 6.5% YoY in October, the highest since November 2022, below expectations of 6.6% and up from 6.3% previously.
- seizethecheese
Here's the actual report https://www.bls.gov/news.release/ppi.nr0.htm
- raincole
Is it okay to post something like this without a source link?
- ericd
We really need to reduce the fiscal/govt budget deficit. It's basically printing trillions per year, and as confidence in the soundness of the USD decreases, demanded interest rates rise, and increase the deficit further. The interest payments are already larger than the defense budget, about $1T/yr. It's an emergency at this point. The old method of raising interest rates to cool inflation isn't effective anymore with this sort of fiscal deficit, because it increases the interest payments, and effectively increases the rate of money printing, counteracting the effect of the decrease in private credit creation.
- tflinton
PPI?...
- roody15
Fundamentally this is a result of wealth accumulation. It is at an all-time high larger than that of the robber baron era. At this point printing money, raising interest rates, quantitative easing (also known as transferring wealth to the wealthy class) can no longer kick the can down the road. Regular populace has been squeezed to the max and system is starting to buckle.
- toomuchtodo
Fed rates and bond market rates going up.
https://blog.sentinel-team.org/p/special-report-rising-bond-...
https://www.cmegroup.com/markets/interest-rates/cme-fedwatch...
- harmmonica
Broken record, but don't lose sight of how we got here. Covid caused massive inflation because of the supply shock and all the money giveaways, mostly to businesses (i.e., wealthier Americans where the wealthier the person the more money they were given, no strings attached).
People blame Biden (and Trump) for that, amongst other things related to Covid, so what do they do? Vote the party into power that loves nothing more than tax cuts so they do what they do and cut taxes aggressively on those same people who benefitted the most from Covid inflation (i.e., the wealthy) when almost all of their net worths have gone through the roof, which is precisely when you can raise taxes to account for the over-aggressive Covid handouts.
And even after all of that, when it looked likely the US was actually getting inflation under control, the same party doesn't put up any fight against its leader who rams through nonsensical tariffs and then starts a war that obviously will (and does) spike the price of the great elixir of growth, a material increase in the price of pretty much everything produced on earth.
As I said when the election happened, people finally woke up, but I just gotta say you cannot hate the politicians enough who caused all of this. Oh, and now we have the party that doesn't know how to balance a checkbook coming into (some) power to further exacerbate the whole thing (and thank god they are because the other guys are straight up crooks, but, man, if this doesn't end p […]
- method_capital
I'll gladly pay you Tuesday for a hamburger today.