PPI shows inflation still going...and going...and going

[ScottW]

https://www.washingtonexaminer.com/opinion/inflation-alarm-bells-keep-ringing

"The Producer Price Index for final demand increased 0.7% in August, seasonally adjusted… On an unadjusted basis, the final demand index rose 8.3% for the 12 months ended in August."

According to the Aug. PPI report, "Leading the August increase in the index for final demand, prices for final demand services rose 0.7%. The index for final demand goods moved up 1.0%… For the 12 months ended in August, the index for final demand less foods, energy, and trade services rose 6.3%, the largest advance since 12-month data were first calculated in August 2014."

Even worse, “For the 12 months ended in August, the index for processed goods for intermediate demand climbed 23.0%, the largest 12-month increase since jumping 23.6% in February 1975."

and Joe plans to dump a lot more fuel on that fire....

ScottW

[MiNe109]

Post by ScottW
https://www.washingtonexaminer.com/opinion/inflation-alarm-bells-keep-ringing
"The Producer Price Index for final demand increased 0.7% in August,
seasonally adjusted… On an unadjusted basis, the final demand index
rose 8.3% for the 12 months ended in August."
According to the Aug. PPI report, "Leading the August increase in the
index for final demand, prices for final demand services rose 0.7%.
The index for final demand goods moved up 1.0%… For the 12 months
ended in August, the index for final demand less foods, energy, and
trade services rose 6.3%, the largest advance since 12-month data
were first calculated in August 2014."
Even worse, “For the 12 months ended in August, the index for
processed goods for intermediate demand climbed 23.0%, the largest
12-month increase since jumping 23.6% in February 1975."

This is a good time to ignore year-to-year comparisons, what with the
pandemic.

Post by ScottW
and Joe plans to dump a lot more fuel on that fire....

Not to worry: the big number for the reconciliation bill is spread over
ten years and doesn't reflect the revenue raising measures it contains.

[Art Sackman]

Post by MiNe109

Post by ScottW
https://www.washingtonexaminer.com/opinion/inflation-alarm-bells-keep-ringing
"The Producer Price Index for final demand increased 0.7% in August,
seasonally adjusted… On an unadjusted basis, the final demand index
rose 8.3% for the 12 months ended in August."
According to the Aug. PPI report, "Leading the August increase in the
index for final demand, prices for final demand services rose 0.7%.
The index for final demand goods moved up 1.0%… For the 12 months
ended in August, the index for final demand less foods, energy, and
trade services rose 6.3%, the largest advance since 12-month data
were first calculated in August 2014."
Even worse, “For the 12 months ended in August, the index for
processed goods for intermediate demand climbed 23.0%, the largest
12-month increase since jumping 23.6% in February 1975."

This is a good time to ignore year-to-year comparisons, what with the
pandemic.

my wallet disagrees with you

[MiNe109]

Post by Art Sackman

Post by MiNe109

Post by ScottW
https://www.washingtonexaminer.com/opinion/inflation-alarm-bells-keep-ringing
"The Producer Price Index for final demand increased 0.7% in August,
seasonally adjusted… On an unadjusted basis, the final demand index
rose 8.3% for the 12 months ended in August."
According to the Aug. PPI report, "Leading the August increase in the
index for final demand, prices for final demand services rose 0.7%.
The index for final demand goods moved up 1.0%… For the 12 months
ended in August, the index for final demand less foods, energy, and
trade services rose 6.3%, the largest advance since 12-month data
were first calculated in August 2014."
Even worse, “For the 12 months ended in August, the index for
processed goods for intermediate demand climbed 23.0%, the largest
12-month increase since jumping 23.6% in February 1975."

This is a good time to ignore year-to-year comparisons, what with the
pandemic.

my wallet disagrees with you

Your wallet wasn't doing much a year ago, so prices were deflated. With
the economy in recovery, your wallet feels like the return to normal is
a big jump up.

[Art Sackman]

Post by MiNe109

Post by Art Sackman

Post by MiNe109

Post by ScottW
https://www.washingtonexaminer.com/opinion/inflation-alarm-bells-keep-ringing
"The Producer Price Index for final demand increased 0.7% in August,
seasonally adjusted… On an unadjusted basis, the final demand index
rose 8.3% for the 12 months ended in August."
According to the Aug. PPI report, "Leading the August increase in the
index for final demand, prices for final demand services rose 0.7%.
The index for final demand goods moved up 1.0%… For the 12 months
ended in August, the index for final demand less foods, energy, and
trade services rose 6.3%, the largest advance since 12-month data
were first calculated in August 2014."
Even worse, “For the 12 months ended in August, the index for
processed goods for intermediate demand climbed 23.0%, the largest
12-month increase since jumping 23.6% in February 1975."

This is a good time to ignore year-to-year comparisons, what with the
pandemic.

my wallet disagrees with you

Your wallet wasn't doing much a year ago, so prices were deflated. With
the economy in recovery, your wallet feels like the return to normal is
a big jump up.

No we did not have deflation

[MiNe109]

Post by Art Sackman

Post by MiNe109

Post by Art Sackman

Post by MiNe109
This is a good time to ignore year-to-year comparisons, what with the
pandemic.

my wallet disagrees with you

Your wallet wasn't doing much a year ago, so prices were deflated. With
the economy in recovery, your wallet feels like the return to normal is
a big jump up.

No we did not have deflation

Depends on what your wallet is buying. Foods and Transportation were
down in August, 2020.

Or if you want, quibble about the difference between the description
"deflated" and the special economic case "deflation."

[ScottW]

Post by MiNe109

Post by MiNe109

Post by Art Sackman

Post by MiNe109
This is a good time to ignore year-to-year comparisons, what with the
pandemic.

my wallet disagrees with you

Your wallet wasn't doing much a year ago, so prices were deflated. With
the economy in recovery, your wallet feels like the return to normal is
a big jump up.

No we did not have deflation

Depends on what your wallet is buying. Foods and Transportation were
down in August, 2020.

What are you smoking?

https://www.bls.gov/news.release/ppi.nr0.htm

ScottW

[MiNe109]

Post by ScottW

Post by MiNe109

Post by MiNe109

Post by Art Sackman

Post by MiNe109
This is a good time to ignore year-to-year comparisons, what with the
pandemic.

my wallet disagrees with you

Your wallet wasn't doing much a year ago, so prices were deflated. With
the economy in recovery, your wallet feels like the return to normal is
a big jump up.

No we did not have deflation

Depends on what your wallet is buying. Foods and Transportation were
down in August, 2020.

What are you smoking?
https://www.bls.gov/news.release/ppi.nr0.htm

Aug, 2020: Foods -0.3; Transportation and warehousing -0.8

[Art Sackman]

Post by MiNe109

Post by ScottW

Post by MiNe109

Post by MiNe109

Post by Art Sackman

Post by MiNe109
This is a good time to ignore year-to-year comparisons, what with the
pandemic.

my wallet disagrees with you

Your wallet wasn't doing much a year ago, so prices were deflated. With
the economy in recovery, your wallet feels like the return to normal is
a big jump up.

No we did not have deflation

Depends on what your wallet is buying. Foods and Transportation were
down in August, 2020.

What are you smoking?
https://www.bls.gov/news.release/ppi.nr0.htm

Aug, 2020: Foods -0.3;

That got wiped out in Sept. 2020.
Transportation and warehousing -0.8
Wiped out in Oct 2020.
Do you really think cherrypicking a down month a year ago makes a valid argument?
Close to the most ignorance you've ever shown. Sadly though, it's not your record.
ScottW

Steve cherrypicked his own brain and found nothing but pits

[MiNe109]

On Wednesday, September 15, 2021 at 11:26:28 AM UTC-7, MINe109

Post by MiNe109

Post by ScottW

Post by MiNe109

Post by MiNe109

On Tuesday, September 14, 2021 at 2:04:31 PM UTC-4,

Post by MiNe109
This is a good time to ignore year-to-year comparisons,
what with the pandemic.

my wallet disagrees with you

Your wallet wasn't doing much a year ago, so prices were
deflated. With the economy in recovery, your wallet feels
like the return to normal is a big jump up.

No we did not have deflation

Depends on what your wallet is buying. Foods and Transportation
were down in August, 2020.

What are you smoking?
https://www.bls.gov/news.release/ppi.nr0.htm

Aug, 2020: Foods -0.3;

That got wiped out in Sept. 2020.

Not the point.

Transportation and warehousing -0.8
Wiped out in Oct 2020.

Also not the point.

Do you really think cherrypicking a down month a year ago makes a
valid argument?

It does when the topic is whether to pay attention to year-to-year
comparisons. Ironically, my view, seen above, was "[t]his is a good time
to ignore year-to-year comparisons" in reference to August 2020 vs 2021.

Congratulations on accidentally agreeing with me!

[ScottW]

Post by MiNe109

On Wednesday, September 15, 2021 at 11:26:28 AM UTC-7, MINe109

Post by MiNe109

Post by ScottW

Post by MiNe109

Post by MiNe109

On Tuesday, September 14, 2021 at 2:04:31 PM UTC-4,

Post by MiNe109
This is a good time to ignore year-to-year comparisons,
what with the pandemic.

my wallet disagrees with you

Your wallet wasn't doing much a year ago, so prices were
deflated. With the economy in recovery, your wallet feels
like the return to normal is a big jump up.

No we did not have deflation

Depends on what your wallet is buying. Foods and Transportation
were down in August, 2020.

What are you smoking?
https://www.bls.gov/news.release/ppi.nr0.htm

Aug, 2020: Foods -0.3;

That got wiped out in Sept. 2020.

Not the point.

Transportation and warehousing -0.8
Wiped out in Oct 2020.

Also not the point.

Do you really think cherrypicking a down month a year ago makes a
valid argument?

It does when the topic is whether to pay attention to year-to-year
comparisons. Ironically, my view, seen above, was "[t]his is a good time
to ignore year-to-year comparisons" in reference to August 2020 vs 2021.

First...PPI is month over month and a 12 month number
to allow short term and long term trend view.
And the topic is month to month and year to year.
Not just one.

Month to month shows inflation is still going.
12 month change shows inflation is way ahead of any covid caused deflation
as you would claim.

For example... Change in final demand from 12 months prior in Aug 2020 was -0.3
That would be your covid deflation.
Change in final demand from 12 months prior in Aug 2021 was +8.3

That leaves an 8% increase since before covid......all of it in the last year.
(and this isn't like stocks where if you take a 50% loss you need a 100% gain
to end up back where you were. Everything is referenced to a baseline year.)

The only good news is that overall month over month showed some slowing but
food which had recorded a -2.1 in July month to month took off again
with a +2.9 month to month in Aug.

ScottW

[MiNe109]

Post by MiNe109

On Wednesday, September 15, 2021 at 11:26:28 AM UTC-7, MINe109

Post by MiNe109

On Wednesday, September 15, 2021 at 7:05:24 AM UTC-7,

Post by MiNe109

On Tuesday, September 14, 2021 at 3:20:49 PM UTC-4,

Post by MiNe109

On Tuesday, September 14, 2021 at 2:04:31 PM UTC-4,

Post by MiNe109
This is a good time to ignore year-to-year
comparisons, what with the pandemic.

my wallet disagrees with you

Your wallet wasn't doing much a year ago, so prices
were deflated. With the economy in recovery, your
wallet feels like the return to normal is a big jump
up.

No we did not have deflation

Depends on what your wallet is buying. Foods and
Transportation were down in August, 2020.

What are you smoking?
https://www.bls.gov/news.release/ppi.nr0.htm

Aug, 2020: Foods -0.3;

That got wiped out in Sept. 2020.

Not the point.

Transportation and warehousing -0.8
Wiped out in Oct 2020.

Also not the point.

Do you really think cherrypicking a down month a year ago makes
a valid argument?

It does when the topic is whether to pay attention to year-to-year
comparisons. Ironically, my view, seen above, was "[t]his is a good
time to ignore year-to-year comparisons" in reference to August
2020 vs 2021.

First...PPI is month over month and a 12 month number to allow short
term and long term trend view. And the topic is month to month and
year to year. Not just one.

I was talking about year-to-year.

Month to month shows inflation is still going. 12 month change shows
inflation is way ahead of any covid caused deflation as you would
claim.

And the latest forecast is that it will decrease.

For example... Change in final demand from 12 months prior in Aug
2020 was -0.3 That would be your covid deflation. Change in final
demand from 12 months prior in Aug 2021 was +8.3
That leaves an 8% increase since before covid......all of it in the
last year. (and this isn't like stocks where if you take a 50% loss
you need a 100% gain to end up back where you were. Everything is
referenced to a baseline year.)
The only good news is that overall month over month showed some
slowing but food which had recorded a -2.1 in July month to month
took off again with a +2.9 month to month in Aug.

This is why crowing over a single report is pointless.

[ScottW]

Post by MiNe109

Post by MiNe109

On Wednesday, September 15, 2021 at 11:26:28 AM UTC-7, MINe109

Post by MiNe109

On Wednesday, September 15, 2021 at 7:05:24 AM UTC-7,

Post by MiNe109

On Tuesday, September 14, 2021 at 3:20:49 PM UTC-4,

Post by MiNe109

On Tuesday, September 14, 2021 at 2:04:31 PM UTC-4,

Post by MiNe109
This is a good time to ignore year-to-year
comparisons, what with the pandemic.

my wallet disagrees with you

Your wallet wasn't doing much a year ago, so prices
were deflated. With the economy in recovery, your
wallet feels like the return to normal is a big jump
up.

No we did not have deflation

Depends on what your wallet is buying. Foods and
Transportation were down in August, 2020.

What are you smoking?
https://www.bls.gov/news.release/ppi.nr0.htm

Aug, 2020: Foods -0.3;

That got wiped out in Sept. 2020.

Not the point.

Transportation and warehousing -0.8
Wiped out in Oct 2020.

Also not the point.

Do you really think cherrypicking a down month a year ago makes
a valid argument?

It does when the topic is whether to pay attention to year-to-year
comparisons. Ironically, my view, seen above, was "[t]his is a good
time to ignore year-to-year comparisons" in reference to August
2020 vs 2021.

First...PPI is month over month and a 12 month number to allow short
term and long term trend view. And the topic is month to month and
year to year. Not just one.

I was talking about year-to-year.

and your point is still BS.

Post by MiNe109

Month to month shows inflation is still going. 12 month change shows
inflation is way ahead of any covid caused deflation as you would
claim.

And the latest forecast is that it will decrease.

Food retailers are not forecasting a decrease.

And a slowing of inflation while better than still more, does not
address the cost increases that have outpaced wages by far.
Peoples purchasing power and standard of living is reduced.

Post by MiNe109

For example... Change in final demand from 12 months prior in Aug
2020 was -0.3 That would be your covid deflation. Change in final
demand from 12 months prior in Aug 2021 was +8.3
That leaves an 8% increase since before covid......all of it in the
last year. (and this isn't like stocks where if you take a 50% loss
you need a 100% gain to end up back where you were. Everything is
referenced to a baseline year.)
The only good news is that overall month over month showed some
slowing but food which had recorded a -2.1 in July month to month
took off again with a +2.9 month to month in Aug.

This is why crowing over a single report is pointless.

Yeah....wait a year and suddenly why food prices are up 25% and all the while you've
been pushing "stimulus" funding.
You can't undo the damage you've done.

ScottW

[MiNe109]

Post by ScottW

Post by MiNe109

Post by MiNe109

On Wednesday, September 15, 2021 at 11:26:28 AM UTC-7,

Post by MiNe109

On Wednesday, September 15, 2021 at 7:05:24 AM UTC-7,

Post by MiNe109

On Tuesday, September 14, 2021 at 3:20:49 PM UTC-4,

Post by MiNe109

On Tuesday, September 14, 2021 at 2:04:31 PM

Post by MiNe109
This is a good time to ignore year-to-year
comparisons, what with the pandemic.

my wallet disagrees with you

Your wallet wasn't doing much a year ago, so
prices were deflated. With the economy in recovery,
your wallet feels like the return to normal is a
big jump up.

No we did not have deflation

Depends on what your wallet is buying. Foods and
Transportation were down in August, 2020.

What are you smoking?
https://www.bls.gov/news.release/ppi.nr0.htm

Aug, 2020: Foods -0.3;

That got wiped out in Sept. 2020.

Not the point.

Transportation and warehousing -0.8
Wiped out in Oct 2020.

Also not the point.

Do you really think cherrypicking a down month a year ago
makes a valid argument?

It does when the topic is whether to pay attention to
year-to-year comparisons. Ironically, my view, seen above, was
"[t]his is a good time to ignore year-to-year comparisons" in
reference to August 2020 vs 2021.

First...PPI is month over month and a 12 month number to allow
short term and long term trend view. And the topic is month to
month and year to year. Not just one.

I was talking about year-to-year.

and your point is still BS.

Strange, because my point is your point: year-to-year comparisons from
August 2020 to August 2021.

Post by ScottW

Post by MiNe109

Month to month shows inflation is still going. 12 month change
shows inflation is way ahead of any covid caused deflation as you
would claim.

And the latest forecast is that it will decrease.

Food retailers are not forecasting a decrease.

Oh, is it food only now?

Post by ScottW
And a slowing of inflation while better than still more, does not
address the cost increases that have outpaced wages by far. Peoples
purchasing power and standard of living is reduced.

Oh, I thought we were talking about the latest PPI report.

Post by ScottW

Post by MiNe109

For example... Change in final demand from 12 months prior in
Aug 2020 was -0.3 That would be your covid deflation. Change in
final demand from 12 months prior in Aug 2021 was +8.3
That leaves an 8% increase since before covid......all of it in
the last year. (and this isn't like stocks where if you take a
50% loss you need a 100% gain to end up back where you were.
Everything is referenced to a baseline year.)
The only good news is that overall month over month showed some
slowing but food which had recorded a -2.1 in July month to
month took off again with a +2.9 month to month in Aug.

This is why crowing over a single report is pointless.

Yeah....wait a year and suddenly why food prices are up 25% and all
the while you've been pushing "stimulus" funding. You can't undo the
damage you've done.

Well, crowing over imaginary future reports is a different kind of
pointless.