Tuesday, February 26, 2008

When will BoE reveal its inflation secrets?

Producer Prices in U.S. Increase More Than Forecast

Prices paid to U.S. producers rose more than twice as much as forecast in January, pushed up by higher fuel, food and drug costs, signaling inflation may keep accelerating even as growth slows. The 1 percent increase followed a 0.3 percent drop in December, the Labor Department said in Washington. The median forecast in a Bloomberg News survey of economists was for a 0.4 percent gain. Excluding food and energy, so-called core wholesale prices climbed 0.4 percent, the most in almost a year. Combined with figures showing consumer prices also rose more than forecast, today's report may prompt the Federal Reserve to consider raising interest rates as soon as the economy stabilizes.

Posted by yt1 @ 01:19 PM (636 views)
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2 thoughts on “When will BoE reveal its inflation secrets?

  • “today’s report may prompt the Federal Reserve to consider raising interest rates as soon as the economy stabilizes.”

    I like that. When is the economy going to stabilize then? Things are due to get a lot worse before that happens!

    And don’t forget that the Fed is tasked with keeping growth going as well as an inflation target – unlike the BoE

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  • Hi Cornish. PPI was bad but the news was taken by the market in its stride, all eyes on Bernanke for tomorrow’s performance. FTSE testing 6100.

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