Wholesale inflation posts biggest drop since start of pandemic, PPI shows, as price pressures ease

[onthedarkside]

 

The numbers: U.S. wholesale prices sank 0.5% in March to mark the biggest decline in almost three years, potentially a sign of further easing in inflation in the months ahead.

 

Economists polled by the Wall Street Journal had forecast no change in the producer price index. The drop last month was the biggest since the start of the pandemic in early 2020.

 

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https://www.marketwatch.com/story/wholesale-inflation-posts-biggest-drop-in-3-years-ppi-shows-3fc04750

 

[placeholder]

A few days ago the monthly consumer Price index for inflation was released. Most news outlets carried extensive coverage of the report. But to determine whether or not it was good news or bad, I turned to an infallible source: Fox News. There was absolutely no mention of it on their homepage. The conclusion to be drawn was clear: good news!

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Markets Jump as Wholesale Inflation Falls
  U.S. equities gained as a surprising decline in producer prices boosted optimism that the Federal Reserve might ease back on interest rate hikes to fight inflation. The Dow and S&P 500 were up more than 1%, and the Nasdaq added 2%. It was the first time in a week that all three rose on the same day.

The possibility of lower borrowing costs benefits tech stocks, and they helped power the advance. 

https://www.investopedia.com/markets-jump-as-wholesale-inflation-falls-7480627

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This is excellent news, of course. Usually, when producer prices fall, then in the following months goods tend to follow suit.

[Tug]

10 hours ago, placeholder said:

A few days ago the monthly consumer Price index for inflation was released. Most news outlets carried extensive coverage of the report. But to determine whether or not it was good news or bad, I turned to an infallible source: Fox News. There was absolutely no mention of it on their homepage. The conclusion to be drawn was clear: good news!

Of course they won’t report on anything positive doesent fit with their audience they don’t give a rat’s behind about America.it’s wonderful news that the feds efforts are starting to get a handle on it.you can feel it,I just bought a truck below invoice without the usual dealer bs not that they dident try lol I just told them what I was willing to do they folded whimpered a bit but they are hungry it’s starting to turn around imo.

[placeholder]

6 minutes ago, Tug said:

Of course they won’t report on anything positive doesent fit with their audience they don’t give a rat’s behind about America.it’s wonderful news that the feds efforts are starting to get a handle on it.you can feel it,I just bought a truck below invoice without the usual dealer bs not that they dident try lol I just told them what I was willing to do they folded whimpered a bit but they are hungry it’s starting to turn around imo.

At this point, a lot depends on the Fed. I think they should take a break from rate hikes and see what happens.

[nauseus]

12 hours ago, placeholder said:

A few days ago the monthly consumer Price index for inflation was released. Most news outlets carried extensive coverage of the report. But to determine whether or not it was good news or bad, I turned to an infallible source: Fox News. There was absolutely no mention of it on their homepage. The conclusion to be drawn was clear: good news!

Fox News? Absolutely no mention of it? Sure?

 

ECONOMY

Published April 13, 2023 8:32am EDT

https://www.foxbusiness.com/economy/ppi-inflation-march-2023

 

 

Good Old infallible Fox News ...... never disappoints. 

[ozimoron]

2 hours ago, placeholder said:

At this point, a lot depends on the Fed. I think they should take a break from rate hikes and see what happens.

That's unlikely. CPI and PPI inflation are still over 5%, well above the target 2%. We may  never see 2% again. The market is pricing in another 0.25% in May and that may be followed by a pause but a cut is some months away. They'd rather see a little more pain now than a lot if they get it wrong and rates continue to rise.

 

Despite recent turmoil within the banking sector, markets still expect the U.S. central bank to raise interest rates during its next two-day meeting on May 2-3, with 60.7% of traders pricing in a 25-basis-point hike.

 

source: above link to Fox.

Edited April 14, 2023 by ozimoron

[placeholder]

2 hours ago, nauseus said:

Fox News? Absolutely no mention of it? Sure?

 

ECONOMY

Published April 13, 2023 8:32am EDT

https://www.foxbusiness.com/economy/ppi-inflation-march-2023

 

 

Good Old infallible Fox News ...... never disappoints. 

That was the Fox Business. Not the main page of Fox News. Because apparently, in the opinion of Fox News,  news of inflation's decline isn't of interest to the general public. 

[ozimoron]

30 minutes ago, placeholder said:

That was the Fox Business. Not the main page of Fox News. Because apparently, in the opinion of Fox News,  news of inflation's decline isn't of interest to the general public. 

After 2 years of blaming Biden for it rising I guess it doesn't work for the front page.

[nauseus]

14 hours ago, placeholder said:

That was the Fox Business. Not the main page of Fox News. Because apparently, in the opinion of Fox News,  news of inflation's decline isn't of interest to the general public. 

Strange. I always look for PPI data in the business section of any site. 

[placeholder]

1 minute ago, nauseus said:

Strange. I always look for PPI data in the business section of any site. 

Maybe you do. But the fact is this was front page news on most major media sites. Where you don't have to hunt for it , Just not on fox.

[nauseus]

2 minutes ago, placeholder said:

Maybe you do. But the fact is this was front page news on most major media sites. Where you don't have to hunt for it , Just not on fox.

So why did you go to Fox "to determine whether or not it was good news"?  

 

[candide]

14 hours ago, placeholder said:

That was the Fox Business. Not the main page of Fox News. Because apparently, in the opinion of Fox News,  news of inflation's decline isn't of interest to the general public. 

Come on! They keep the main page for more important news than inflation drop! ????

https://www.foxnews.com/

Edited April 15, 2023 by candide

[placeholder]

27 minutes ago, nauseus said:

So why did you go to Fox "to determine whether or not it was good news"?  

 

Because if Fox chose to ignore a really big piece of news about the economy, then it must be the kind of news that I would find pleasing.

[vandeventer]

On 4/14/2023 at 8:41 AM, placeholder said:

A few days ago the monthly consumer Price index for inflation was released. Most news outlets carried extensive coverage of the report. But to determine whether or not it was good news or bad, I turned to an infallible source: Fox News. There was absolutely no mention of it on their homepage. The conclusion to be drawn was clear: good news!

Does this help? Are you sure it's good news?

https://www.foxnews.com/politics/president-biden-turns-heads-instagram-post-bragging-about-inflation-falling-from-its-peak

[placeholder]

1 minute ago, vandeventer said:

Does this help? Are you sure it's good news?

https://www.foxnews.com/politics/president-biden-turns-heads-instagram-post-bragging-about-inflation-falling-from-its-peak

You mean because fox news fans say otherwise? Because that's an audience that doesn't skew to the right?

What serious economist wouldn't say that the continuing decline in inflation is good news?

[vandeventer]

50 minutes ago, placeholder said:

You mean because fox news fans say otherwise? Because that's an audience that doesn't skew to the right?

What serious economist wouldn't say that the continuing decline in inflation is good news?

So you think America is headed in the right direction? Will you vote for Biden in 2024?

[placeholder]

4 minutes ago, vandeventer said:

So you think America is headed in the right direction? Will you vote for Biden in 2024?

Well, given that the Republicans have a majority in the House, that's an ambiguous question. And even the question of headed in the right direction as far as economics is concerned is one that thoughtful people know doesn't necessarily depend on who is president. Especially in the relatively short term. There are lots of external forces at play. And then there's the chair of the Fed. For instance all the tax cuts starting with Reagan through Bush and Trump have added mightily to the deficit. Does that mean that they had a deleterious effect on the economy when they were President. Or are even having a deleterious effect now?

As for whom I will vote for, I would certainly vote for Biden over any prospective Republican candidate. The makeup of the Supreme Court alone is reason enough for that.

[vandeventer]

10 minutes ago, placeholder said:

Well, given that the Republicans have a majority in the House, that's an ambiguous question. And even the question of headed in the right direction as far as economics is concerned is one that thoughtful people know doesn't necessarily depend on who is president. Especially in the relatively short term. There are lots of external forces at play. And then there's the chair of the Fed. For instance all the tax cuts starting with Reagan through Bush and Trump have added mightily to the deficit. Does that mean that they had a deleterious effect on the economy when they were President. Or are even having a deleterious effect now?

As for whom I will vote for, I would certainly vote for Biden over any prospective Republican candidate. The makeup of the Supreme Court alone is reason enough for that.

Thanks for your honesty.

[placeholder]

14 minutes ago, placeholder said:

Well, given that the Republicans have a majority in the House, that's an ambiguous question. And even the question of headed in the right direction as far as economics is concerned is one that thoughtful people know doesn't necessarily depend on who is president. Especially in the relatively short term. There are lots of external forces at play. And then there's the chair of the Fed. For instance all the tax cuts starting with Reagan through Bush and Trump have added mightily to the deficit. Does that mean that they had a deleterious effect on the economy when they were President. Or are even having a deleterious effect now?

As for whom I will vote for, I would certainly vote for Biden over any prospective Republican candidate. The makeup of the Supreme Court alone is reason enough for that.

Actually just as important a reason is the protect the Inflation Reduction Act. The repubicans would like nothing better than to shrink back the IRS and deprive it of necessary resources. And to slow or even reverse progress on renewables and pollution reduction.