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Re: Why do they even include something like tobacco in these widely watched indexes...

By: oldCADuser in FFFT | Recommend this post (0)
Thu, 18 Aug 11 1:11 AM | 44 view(s)
Boardmark this board | Food For Further Thought 		Msg. 31718 of 65535
(This msg. is a reply to 31705 by oldCADuser)
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I couldn't help but wonder at the implication of learning that apparently the two items which had the biggest impact on the July Producer Price index was the higher costs of tobacco products and pickup trucks. So if you've got any red-neck friends who have seemed to have been particularly upset recently about the 'cost of living', you now know what it might have been which has put them into that state Wink




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The above is a reply to the following message:
Why do they even include something like tobacco in these widely watched indexes...
By: oldCADuser in FFFT
Wed, 17 Aug 11 6:29 PM 		Msg. 31705 of 65535

Tobacco sparks 0.2% rise in July producer prices

Aug. 17, 2011, 8:30 a.m. EDT

WASHINGTON (MarketWatch) -- Producer prices rose a seasonally adjusted 0.2% in July, as a surge in tobacco prices offset a decline in energy costs, the Labor Department said Wednesday. Excluding food and energy, the so-called core PPI rose 0.4%, the largest monthly rise since January. Economists polled by MarketWatch had expected a 0.1% monthly rise and a 0.2% gain in core producer prices. Over 12 months, producer prices have climbed an unadjusted 7.2%. Producer prices of intermediate goods, which have been processed but require further processing, rose 0.2%, while those of crude goods, which haven't been fabricated or manufactured and not sold to consumers, fell 1.4%.

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