Bidenflation: Philly Fed Survey Shows Cost Inflation at Worst Since 1979

[mystery-ak]

Bidenflation: Philly Fed Survey Shows Cost Inflation at Worst Since 1979

John Carney 17 Mar 2022

Apart from this past November, it has been nearly a half-century since price hikes by manufacturers in the Philadelphia region were this widespread.

The Federal Reserve Bank of Philadelphia said its monthly manufacturing survey’s index of prices received rose to 54.4 in early March, with 57 percent of surveyed businesses saying they had raised their prices, thirty-eight percent saying prices were unchanged from a month before, and two percent saying they had cut prices.

Except for November of 2021, this was the highest reading for the measure of prices received since 1974. The highest ever reading was in February 1974, when the index hit 63.8. In November, the index rose to 62.9.

The index of prices paid for materials and components rose 12 points to 81.0, the highest since June of 1979. Eighty-seven percent of manufacturing businesses reported rising input prices, seven percent reported no change, and six percent costs had declined.

The survey polls manufacturing firms in the Third Federal Reserve District, which includes eastern Pennsylvania, southern New Jersey, and Delaware.

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https://www.breitbart.com/economy/2022/03/17/bidenflation-philly-fed-survey-shows-cost-inflation-at-worst-since-1979/

[catfish1957]

Bidenflation: Philly Fed Survey Shows Cost Inflation at Worst Since 1979

One point I want to add, is that back in 1979, the United States was still had ptetty much a manufacturing based economy. 

Now we are service, and governmental slug based.

Back then you could  recover from that with some decent fiscal discipline.  Now, with this  mess, this is a hole that will be much more difficult to recover from.

[mountaineer]

[IsailedawayfromFR]

One point I want to add, is that back in 1979, the United States was still had ptetty much a manufacturing based economy. 

Now we are service, and governmental slug based.

Back then you could  recover from that with some decent fiscal discipline.  Now, with this  mess, this is a hole that will be much more difficult to recover from.

That reality really begs one to invest more in American manufacturing companies than tech companies.