Posted on 08/09/2019 9:45:46 AM PDT by BenLurkin
The wholesale cost of U.S. goods and services rose modestly in July, but inflation more broadly appeared dead in the water and showed little sign it’s about to speed up.
The producer price index increased 0.2% last month, matching the forecast of economists polled by ...
Yet the pace of wholesale inflation over the past year was flat 1.7%. And more closely followed measure that strips out volatile food, energy and trade-margin costs fell for the first time in almost four years. The so-called core PPI dipped 0.1%.
Wholesale prices rose 0.4% for goods, largely reflecting an increase in gasoline prices in July during the height of the summer driving season. Energy prices are still 4.4% lower now compared to a year ago, however.
Wholesale prices of food moved up 0.2%.
The cost of services, meanwhile, declined 0.1% in July to break a string of five straight increases. A big drop in the cost of guestroom rentals played a major role in the decline.
There doesn’t appear to be much inflation in the pipeline, either. The cost of partly finished goods are down 2% over the past 12 months and raw-material prices are 10% lower.
(Excerpt) Read more at marketwatch.com ...
There is no sign import tariffs are causing any inflation like the gloBULLits scare tactics predicted.
The actual headline at your link is
“Wholesale inflation dead in the water, PPI shows”
I visit Marketwatch often out of habit I suppose because it is convenient site to check fund prices and charts. However the writers at the site are leftists. I generally distrust everything they report.
Thank you. Need to wake up.
Inflation is a macro-economic matter.
It does not mean costs are not rising somewhere in the economy for some reason. All it means is what cost/price increases there are they are offset - as a macro-economic factor - by lower costs/prices somewhere else.
It always means that still someone’s ox is getting gored when some else’s is not.
WHAT is also true, regardless of inflation is U.S. exports are down compared to 2018 and imports are not appreciably lower. Tariffs are not hurting the import picture that much while retaliatory tariffs by others appear to be hurting the export picture.
Wow, that is just awful..../S
So what , the tariffs are a LONG term strategy. So what you are saying is irrelevant.
As far as out exports go they are mostly agricultural products . So 1% of the economy is affected. Big deal. The over hyped $130B agri (farming) business is subsidized $25B / yr artificially keeping prices up for food and domestic demand down. There is severe artificially in that small segment of GDP that NOBODY talks about.
In areas of the country where the population is small, it does not take a ton of people switching their voter preference to change which party they support for president. The “farm belt” is a lot of electoral votes, and Trump won most of it. And in 2020???
If the Republican Party has to buy votes the it need to go away. We need a new party of working class Americans and patriots to replace it.
So farmers today are not “working class Americans”??
And so you thing the GOP should then lose the farm states and just “go away”.!!!!
And what in the politically uotopian (conservative utopian) world do you think will then take control of Congress. A “Consitution” party?? In your dreams maybe.
Let’s wait and see what the actual harvest is this year before we make any pronouncements about agriculture.
Spring planting was just awful. Record number of unplanted acres. Possibly early freeze (let’s hope not!).
Exhorbitant food prices are mostly the result of post processing and companies that derive profit from that.
If farmers are subsided how do I know they are patriots? Maybe they are natural Democrats who are just paid political mercenaries. Why should I, as an IT worker, vote for Republican? I do but it is against my own self economic interests to do so and I always feel stupid afterwards. Labor, by labor I mean all labor and not just the 7% union labor, is a political orphan.
Let in the foreign grown grain and raised beef.
But not the foreign made manufactured products?
Btw, lots of foreign countries (other than mmmmmaybe russia and brazil) aren’t having a great harvest either.
Yes you see the hypocrisy!!!! Yeah. I would get rid of all farm subsidies and raise import tariffs and let the domestic market set prices. Americans should make things for and feed their fellow Americans.
“If farmers are subsided how do I know they are patriots?”
Superfulouse question.
I care only that they - as far as majorities in many of their states - voted for Trump - for whatever reason suited them - in 2016. And I care that if they - the farm belt - thinks they have been ambandoned by Trump, they may not do so in 2020.
Has all Trump’s judges been worth their vote - regardless of farm subsidies!?!? Dam straight it was.
You can be a political purest all you want. It does not win elections and Trump winning in 2016 WAS worth it.
There are 20+ million manufacturing workers in the USA(15 to 20 times the number farmers) so why not subsidize them for their vote?
It is NOT an issue of removing, adding, or changing who is or is not at this time getting any federal subsidies.
As a SEPARATE issue I am not against there being NO farm subsidies.
Yet as I said, regardless of the farm subsidies, even if there were none, the current change in tariffs HAS obtained retaliatory tariffs on our farm exports - period. THAT is NOT about the subsidies. It’s a tariff issue.
Bringing that side issue in changes nothing about what is happening today in tyerms of trade.
But going ahead and keep trying to immediately solve every side political issue on some politically purer basis, while the rest of, the practical folks, consider the next elections and policies that may impact them; for we’d sure as hell like to NOT see any Dim choose Ginzberg’s replacement.
practical folk = Free Traitors™.
So are you going to vote for the Dem in '20? I am sure they will be anti tariff.
You just don’t get it do you.
I AM NOT going to vote for a Dim in 2020. But there is a good chance, if the trade war continues and farm exports keep hurting that a good many votes in a good many of the farm states in the middle of the country might just switch from Red to Blue. But you go ahead and keep imagining its about me and not them.
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