Tuesday, October 18, 2005

Producer Prices Up Sharply

It's like watching a train wreck in slow motion. The energy shock to the U.S. economy is coming, and will hit us all hard.
The Bureau of Labor Statistics today announced that its PPI (Producer Price Index) shot up 1.9 percent last month due to climbing energy costs. This is the sharpest one month increase in the PPI in fifteen years. The energy portion of the index climbed 7.1 percent.
While the effects of climbing energy prices are seen instantaneously at the gas pump and in home heating bills, the effects will reverberate throughout the economy for months to come: in transportation expenses and in higher raw material costs.


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