Producer Prices Up 0.2%, Less Than Expected

[brooklynite]

Source: CNBC

US producer prices rose by a smaller-than-expected 0.2 percent in April after gasoline prices sank, government data showed on Tuesday, but core inflation at the producer level posted a larger advance.

Economists polled by Reuters had expected that producer prices - a gauge of costs at the farm and factory gate - would rise 0.4 percent after mounting 1.1 percent in March.

Core producer prices, which strip out volatile energy and food costs, increased by 0.4 percent. That was twice the rate that had been forecast. Core producer prices over the last 12 months rose 3.0 percent, the largest gain since December 1991.

Gasoline prices at the producer level fell 4.6 percent, but they were up 23 percent over the past year. Overall producer prices were up 6.5 percent on a year-on-year basis. Food prices were unchanged in April, although within that category the price of rice jumped by 17.4 percent, notching the largest rise since 1993.

Read more: http://www.cnbc.com/id/24723431

[Freddie Stubbs]

1. Less demand may be the cause

[Jackpine Radical]

2. Gasoline prices sank. GASOLINE prices sank.

WTF, are they channeling a parallel universe in which Jimmy Carter was elected to a second term or something?

[Dr.Phool]

3. They're using Rove math again.

Do you recall gas going down in April? I sure don't.

[Tandalayo_Scheisskopf]

4. What is simply remarkable...

Is that these numbers that Dear Leader's administration is releasing are a feeble attempt at words made flesh. That if they say that the price of gas went down, they, by gum, they went down, even if they did not. Kinda like King Knute, joo know?

More interestingly, the markets will be having spontaneous and entirely messy orgasms in their pants over this AWESOME!!! news today. Even though filling their Hummers costs close to $200. They will buy this pile o' crrrrrap without pause or question.

Even though we certainly have a psychotically delusional administration, I cannot say I ever stopped and thought "Geez, it sure would be neat to have an administration that hallucinates and hears voices".

[ramapo]

5. Remarkable if anybody believes this crap

How the media can report these numbers with a straight face is my question.

This is just silly nonsense. What else can you say about it?