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Related: About this forumWholesale prices drop in June, U.S. inflation very low due to the coronavirus pandemic
Wholesale prices drop in June, U.S. inflation very low due to the coronavirus pandemic
Published: July 10, 2020 at 9:02 a.m. ET
By Jeffry Bartash
PPI dips 0.2% in June; wholesale inflation down 0.8% in past year
beachbumbob
(9,263 posts)or gas that gone up 15% and more, sure no inflation, or discussion on raising property tax levies, sure no inflation
jimfields33
(15,793 posts)It kinda pisses me off they exclude food. Thats the one area they should count. Im sure when they started the inflation statistics, most had farms and didnt have to buy item at the store as much. Times have changed and everything is purchased and expensive like never before. Proof! If things were not expensive, the manufacturer wouldnt try to keep prices stable by making boxes smaller or taking out multiple items like toilet paper. The biggest crock is the 83 rolls equivalent to 18 rolls. Nuts!!!!!
beachbumbob
(9,263 posts)COLA increases to SS and other COLA related items. So we have no inflation except for items that arent tracked or CPI does a "substitution"
progree
(10,907 posts)progree
(10,907 posts)Last edited Fri Jul 10, 2020, 12:15 PM - Edit history (3)
And that's the headline figures used almost always.
Food and energy is excluded in the Core PPI, and Core CPI, but those are usually reported deeper down in the article, and seldom in the headlines in my experience.
As it turns out, the PPI (which includes food and energy) in June fell 0.2%, but the Core PPI (which excludes those) rose 0.3%.
Food fell 5.2% and Energy rose 7.7% in June
Over the past year, the PPI fell 0.8%, while the core PPI fell 0.1%.
Looking at the last report, May's for the CPI:
https://www.bls.gov/news.release/cpi.nr0.htm
Over past 12 months,
CPI (which includes food and energy) was up 0.1%
Core CPI (excludes food and energy) was up 1.2%
Food: +4.0%
Energy: -18.9%
So all of the above numbers are very low inflation (or deflationary) except food: +4.0% (over 12 months).
Next CPI report: next Tuesday July 14
Edited to add: The CPI/PPI surveyors do actually measure the quantity that's in the boxes and cans.
progree
(10,907 posts)it would show that inflation was soaring through the roof.
How do you know?
From something some message board rando posted. But I know (s)he's a wonderfully wonderful progressive so I believe it. Or, it's something that sounds like it might be true, and I don't really care whether it is or not.
Did you think to check on what is and isn't include in the CPI/PPI before posting?
No. Besides they cook the books and its all lies (that was said here during the Obama admin too), so why bother
OK.