'Wholesale prices in the U.S. rose more than forecast in September, boosted by gasoline, food and trucks, indicating inflationary pressures continue to bubble up the production line. The producer price index climbed 0.8 percent, the most in five months, after no change in August, Labor Department figures showed today in Washington. Economists projected a 0.2 percent gain, according to the median of 71 estimates in a Bloomberg News survey.' http://www.bloomberg.com/news/2011-...e-than-economists-estimated-in-september.html
The gains in the PPI were led by a 4.2 percent increase in gasoline ... The so-called core measure, which excludes volatile food and energy, gained 0.2 percent, also more than predicted.
In addition, most of this price increase was reversed just recently, but didn't get into the calculation. You can almost hear DA rubbing his hands together at the thought of hyperinflation. It would validate his punitive worldview. Problem is we are in an overall deflationary mode with demand being basically stagnant.
BTW - 'The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in September on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.9 percent before seasonal adjustment.' http://www.bls.gov/news.release/cpi.nr0.htm BTW - that is the highest inflation rate in 3 years and the third highest September inflation rate in over 20 years (since 1990). That's higher then all but 2 of the housing boom years and higher then ALL of the dot.com boom years. http://www.usinflationcalculator.com/inflation/historical-inflation-rates/
