Bennie and CNBC keep spewing out the drivel about deflation and the numbers keep showing inflation. WTF!!!!
The MSM has barely reported that the PPI came in higher than expected and has been running between 4% and 6% for the last 8 months. The disinformation campaign to convince Americans that prices are not really going up continues. I got a letter from my beloved State of PA yesterday that the annual fee for my EZ Pass Transponder is being raised by 100%. No inflation here. Move along.
PRODUCER PRICE INDEXES – JULY 2010
The Producer Price Index for Finished Goods rose 0.2 percent in July, seasonally adjusted, the
U.S. Bureau of Labor Statistics reported today. This advance followed a 0.5-percent decline in
June and a 0.3-percent decrease in May. At the earlier stages of processing, prices received by
manufacturers of intermediate goods moved down 0.4 percent in July and the crude goods index
rose 2.7 percent. On an unadjusted basis, prices for finished goods advanced 4.2 percent for the
12 months ended July 2010, their ninth consecutive 12-month increase. (See table A.)
from 12 months
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for March 2010 have been revised to reflect the availability of late reports and corrections by respondents.