Wholesale inflation hits highest level in 27 years

News Type: Event — Seeded on Tue Aug 19, 2008 3:13 PM EDT

Article Source: The Omaha World-Herald

Wholesale inflation surged in July, leaving prices for the past year rising at the fastest pace in 27 years, according to government data released Tuesday.

The Labor Department reported that wholesale prices shot up 1.2 percent in July, pushed higher by rising costs for energy, motor vehicles and other products. The increase was more than twice the 0.5 percent gain that economists expected.

Core prices, which exclude food and energy, rose 0.7 percent. That increase was the biggest since November 2006 and more than triple the 0.2 percent rise in core prices that had been expected.

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3.4

{"commentId":2505633,"authorDomain":"nearing"}

nearing

Supply side economics coming to bite us in the butt. it was only a matter of time.

***Please note: I intend to be vigilant in keeping the discussions on this seed on topic. I will delete any comments I believe to be of an intentionally derailing or thread-jacking nature without further warning.

{"commentId":2505633,"threadId":"335032","contentId":"1763176","authorDomain":"nearing"}

1 vote

#1 - Tue Aug 19, 2008 3:22 PM EDT

{"commentId":2507980,"authorDomain":"uspolitics"}

Kathy Gill

Thanks for the seed, Nearing. Harper's has these related factoids in this month's index:

Rank of this year's economic crisis among the "largest financial shocks since the Great Depression," according to the IMF: 1

Estimated number of FDIC-insured banks currently in danger of failing: 90

Number that failed in the past three years: 3

{"commentId":2507980,"threadId":"335032","contentId":"1763176","authorDomain":"uspolitics"}

1 vote

#2 - Tue Aug 19, 2008 6:28 PM EDT

{"commentId":2517328,"authorDomain":"nearing"}

nearing

They have set us up for disaster.

All the while they will be laughing all the way to the bank with our tax dollars and laying on some beach in Paraguay or Dubai.

{"commentId":2517328,"threadId":"335032","contentId":"1763176","authorDomain":"nearing"}

2 votes

#2.1 - Wed Aug 20, 2008 1:16 PM EDT

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Wholesale prices rising at fastest pace since 1981	Associated Press	Thu Aug 14	0
Treasurys advance on more financial worries	Associated Press	Mon Aug 18	0
U.S. Producer Prices Surge More Than Forecast in July	Bloomberg.com	Tue Aug 19	0
Wholesale prices rising at fastest pace since 1981	The Seattle Times	Tue Aug 19	0
Higher inflation brings lower standard of living	Associated Press	Thu Aug 14	4

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Wholesale inflation hits highest level in 27 years

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