U.S. producer prices surge in November (Biggest jump in 34 YEARS)

Source: MSNBC

Wholesale prices shot up 3.2 percent in November, the biggest jump in 34 years, propelled by a record rise in gasoline prices.

The big inflation pickup in the Producer Price Index, which measures the costs of goods before they reach stores shelves, came after wholesale prices inched up by just 0.1 percent in October, the Labor Department reported Thursday.

When volatile energy and food prices are removed, all other prices rose by 0.4 percent in November, after being flat the month before. The last time this price barometer registered a bigger increase was one year ago. The pickup in “core” prices suggested inflation may be seeping into a wider range of goods.

Read more: http://www.msnbc.msn.com/id/22240224/

"there is no recession, there is no recession..."

for the credit crisis, for inflation, for recession, for destroying America.

8643

Now if we can all figure out how to turn the furnace off and not eat, we'll be just fine.

The core number does not.

Hence the reference to gasoline in the article.

...and the number that usually gets reported.

A story that actually leads with anything other than the core figure is pretty unusual.

Another sign that the recession/housing market collapse/credit crunch is going to be severe despite Bush and Bernake's attempt to create a soft landing for the economy.

"Wholesale prices shot up 3.2 percent in November, the biggest jump in 34 years, propelled by a record rise in gasoline prices.

The big inflation pickup in the Producer Price Index, which measures the costs of goods before they reach stores shelves, came after wholesale prices inched up by just 0.1 percent in October, the Labor Department reported Thursday.

When volatile energy and food prices are removed, all other prices rose by 0.4 percent in November, after being flat the month before."

Usually the top-line number is reported first, followed by the core. Here the top-line number is reported in the first sentence and the core is reported in the third paragraph.

For many more examples, search the LBN archive from 2004 to present, author "swag", keyword "CPI".

Your post is quite clear.
I made a point to emphasize core inflation numbers because that's what I see stories on local news push.

Ahhh.....just forget it.

:hi:

Sorry. Didn't mean to be a dick. I was just born that way.

show and she made a satement about how we might be going into recession and in next election we need to make a change from the last few years and get rid of the 'recessionary thinking' and 'we the strong country we were'.Which I doubt is how she usually starts her show.Audience clapped well too.

We'll see if there's any pass-through in the tomorrow's CPI.

I expect CPI to be just as bad, if not worse, than PPI.

Guess I'll start buying my monthly I-bonds again.

it isn't really backed by anything. The federal bank issues the money. The federal reserve system isn't even really part of the government. Our country has no real currency of it's own. Just bogus paper, backed by the promise to print more bogus paper.