Bidenflation’s Back: Producer Prices Jump More Than Expected as Inflation Reignites in January

[mystery-ak]

Bidenflation’s Back: Producer Prices Jump More Than Expected as Inflation Reignites in January

John Carney 16 Feb 2023

The prices of goods and services sold by U.S. businesses rose at a faster rate than expected in January and the disinflation in December was weaker than previously thought, data from the Labor Department’s producer price index showed.

The producer price index for final demand—which tracks what U.S. businesses charge for goods and services sold to their end-users in the private sector, government, and around the world—rose by a sharp 0.7 percent in January, the fastest increase in prices since June of last year. Compared with a year ago, the producer price index is up six percent.

The numbers represent an acceleration of inflation after prices took a breather in December. In December, the producer index fell 0.2 percent, revised from the preliminary report showing the index fell 0.5 percent. In November, the index was up 0.3 percent.

Economists had forecast a milder return of inflationary pressures. The month-t0-month increase was projected to rise 0.4 percent and the year-over-year figure was expected to rise 5.5 percent.

https://www.breitbart.com/economy/2023/02/16/bidenflations-back-producer-prices-jump-more-than-expected-as-inflation-reignites-in-january/

[Free Vulcan]

And the Philly Fed manufacturing index and housing starts were down sharply, so more indications of stagflation.

The markets might be a wild ride today, and beyond.

[mystery-ak]

Inflation fell to 6% in January in producer price index
by Zachary Halaschak, Economics Reporter |
February 16, 2023 08:32 AM


Inflation, as measured by producer wholesale prices, slowed to 6% for the year ending in January, according to a report Thursday from the Bureau of Labor Statistics.

That year-over-year inflation rate was down from 6.2% the month before and was still higher than what forecasters expected.

Looking at the past several months, it appears as though inflation (as measured by the producer price index) peaked and is on its way down, which is a bit of good news for President Joe Biden, whose approval ratings have been undercut by soaring costs for households.

Annual wholesale inflation previously peaked in March, clocking in at 11.7%. Trends in producer prices eventually trickle down to households.

The report comes just days after an update to the more closely watched consumer price index showed inflation falling only slightly, dropping from 6.5% in December to 6.4% last month. The headline number was higher than what most economists had expected and has raised concerns about more interest rate hikes by the Federal Reserve and a subsequent recession.

more
https://www.washingtonexaminer.com/policy/economy/inflation-fell-to-6-in-january-in-producer-price-index

[catfish1957]

And the Philly Fed manufacturing index and housing starts were down sharply, so more indications of stagflation.

The markets might be a wild ride today, and beyond.

It's been over 5 months since the VIX has been over 25.  I'd say we are due a little rollercoaster riding.

I'm hoping for some dips in some tech equities  (infrastructual only).  Problem is my preferable entry point on those plays  is generally 8-12% above where I want to pay now.

[mountaineer]

CNBC: Producer price inflation "coming in hot," accelerating more "than expected."

https://twitter.com/RNCResearch/status/1626216351747432454

[Free Vulcan]

It's been over 5 months since the VIX has been over 25.  I'd say we are due a little rollercoaster riding.

It drifted into the 17 range once or twice, which is pretty much asking for a butt whoopin'.

[catfish1957]

CNBC: Producer price inflation "coming in hot," accelerating more "than expected."

https://twitter.com/RNCResearch/status/1626216351747432454

Santellli is the one and only singular reason to drop into CNBC. My watchlist percentages?  FBN- 97%, CNBC- 3% Boob-berg- 0%

Good ole' Rick...   Father of the Modern Tea Party Movement with his infamous '09 rant.....


http://www.youtube.com/watch?v=zp-Jw-5Kx8k

[Free Vulcan]

It's been over 5 months since the VIX has been over 25.  I'd say we are due a little rollercoaster riding.

I'm hoping for some dips in some tech equities  (infrastructual only).  Problem is my preferable entry point on those plays  is generally 8-12% above where I want to pay now.

No surprise, did a weak, shallow clawback rally that petered out, then dropped like a stone on heavy volume.

[catfish1957]

No surprise, did a weak, shallow clawback rally that petered out, then dropped like a stone on heavy volume.

Just waiting for Powell to respond to the hotter than expected Bidenflation numbers.  One of these upcoming unexpected spike-hikes is going to unleash the Bears of Hell. 

I am really eyeballing the metals commodity prices, as I think it will be a early harbringer of some massive inside equity selling. (i.e Gold-2000, Silver-30).  Wouldn't a nice 30-40% correction be nice for some bargains?

[Free Vulcan]

Just waiting for Powell to respond to the hotter than expected Bidenflation numbers.  One of these upcoming unexpected spike-hikes is going to unleash the Bears of Hell. 

I am really eyeballing the metals commodity prices, as I think it will be a early harbringer of some massive inside equity selling. (i.e Gold-2000, Silver-30).  Wouldn't a nice 30-40% correction be nice for some bargains?

I would love silver to get down to single digits just to buy a goodly amount of junk coins.

[Idiot]

I would love silver to get down to single digits just to buy a goodly amount of junk coins.

Bite your tongue!

[catfish1957]

I would love silver to get down to single digits just to buy a goodly amount of junk coins.

I really think that any major correction will be followed by a flight to safety to metals.  Would be hugely suprised if we say Silver ever under $15/oz and Gold under $1400/oz any time in my lifetime.