Aren’t you glad you don’t need to use gasoline or any other oil based products in your everyday life? I’m sure Yellen will write this off as transitory. Why disrupt a Fed induced bull market for the .1% with any move from extreme emergency level interest rates. That would be disconcerting to Jamie Dimon and his ilk. There would be hundreds of angry calls from the Hamptons to the Eccles building in D.C.
Producer Prices Jump MoM Most Since Sept 2012 Driven By Higher Energy Costs
Submitted by Tyler Durden on 06/12/2015 08:40 -0400
Producer Prices Final Demand rose 0.5% MoM – the biggest monthly rise since September 2012. With the gasoline index up a stunning 17% (but but but) 80% of the broad-based advance is attributable to prices for final demand energy – which increased 5.9%. In contrast, Final Demand PPI YoY Ex Food & Energy dropped to +0.6% – the lowest on record in the short time series.
Biggest jump in PPI in almost 3 years…
53 dollars to fill my truck with gas this week. No inflation my ass. These people must not eat beef or pay for their own insurance. Assholes. I am using sanding wheels on my grinder to sand down my house getting it ready for paint. $4.75 each. Went back to the Depot last weekend new special price 3 for $15.98, WTF.
Bob.
Beef Prices Hit Record: Up 30% In Past Two Years
Submitted by Tyler Durden on 06/12/2015 09:12 -0400
While the Fed may continue to claim inflation is non-existent, except for those “few” Americans who can’t afford a house and thus have to rent (incidentally, in New York the average rent just hit a record), inflation is all too present for those other Americans who still enjoy occasionally eating eating beef as opposed to its sawdust-inspired substitute found in various fast-food venues across the US.
According to the BLS, after a torrid 2014, in which there was a 24% surge in beef prices which central planners blamed on everything except their policies, in May the Beef and Veal price index just rose to a new all time high of 260.8, up 12.3% from a year ago, and up 30% in the past two years.
So yes, aside from soaring rent prices and costs of food that won’t actually force you into an early grave, there is almost no inflation anywhere. Well, except gasoline prices too. After dropping sharply through the end of 2014 and in January, they have unambiguously surged pretty much in a diagonal line ever since.
Source: BLS
Admin,
Fortunately they are working on getting rid of the country of origin for meat. I am sure that the nasty inflation can be cured with some cheap Chinese choice cuts. They would never cut any corners in food production.
http://siouxcityjournal.com/ap/business/house-votes-to-repeal-country-of-origin-labeling-on-meat/article_5487b962-d184-5926-af90-b840ca567d14.html
Bob.
A 25 oz jar of Sunsweet brand prunes is still under two bucks at Walmart. Life is goooood!