Tuesday, Dec 19, 2006
US Inflation NOT under control
BBC: US sees surge in producer prices
The producer price index, which measure the cost of goods from US factories, farms and refineries, rose 2% last month, well above forecasts. The US Labour Department figures saw the core index - which exclude volatile food prices and energy - rise 1.3%. November's increase challenges the notion that inflation is under control.
Posted by pinetree @ 03:37 PM (183 views) Add Comment
4 Comments
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1. harold said...
US sees surge in producer prices - and so the Dow responds by reaching new highs!!??
What a funny market right now - must be due for a crash.
2. Nohpc said...
I have to say I am very surprised by the Dow of late. It appears to be remarkably resilient. I am sure that all those mega rich stock brokers are not stupid people and are very well of all the ups and downs of the american economy so there is obviously still a lot of confidence. And there's not even a tech boom driving this or anything.
3. harold said...
'resilient' is not how I would describe it, 'highly speculative' would be more appropriate.
"I am sure that all those mega rich stock brokers are not stupid people..." Maybe not, but they are greedy, which has its own perils.
4. Boarder said...
Maybe they are pricing in inflation, rather than growth?