Posted on 03/16/2011 5:59:34 AM PDT by quesney
WASHINGTON — Wholesale prices jumped last month by the most in nearly two years due to higher energy costs and the steepest rise in food prices in 36 years. Excluding those volatile categories, inflation was tame.
The Labor Department says the Producer Price Index rose a seasonally adjusted 1.6 percent in February, double the 0.8 percent rise in the previous month. Outside of food and energy costs, the core index ticked up 0.2 percent, less than January’s 0.5 percent rise.
Food prices soared 3.9 percent last month, the biggest gain since November 1974. Most of that increase was due to a sharp rise in vegetable costs, which increased nearly 50 percent. That was the most in almost a year. Meat and dairy products also rose.
(Excerpt) Read more at washingtonpost.com ...
Inflation will always be tame if you carefully exclude all the categories where prices are rising.
Sorta like low unemployment numbers if you exclude those that don’t have a job.
Do you always rain on everybody's parade?
Actually, I was going to make the same observation.
HOPEY! CHANGEY!!!
You don’ need no Stinkin’ food, anyway.
Better that money be confiscated as taxes to pay for the next White House MoTown Lobster and Cristal fest.
The upward prices were inevitable when a large number of vegetables left the food market and joined the democratic party to be with like minded beings.
Oh my. The MSM (organ of the DNC)
will either:
1) LIE and report prices have FALLEN.
and Obama-The-One is responsible.
or 2) Ignore it. Instead they will imagine
next weeks weather and dutifuly present
propaganda from America’s enemies
or 3) Blame Bush and Palin.
Hopeless and Changeless.
Moochelle thinks we’re too fat and need to diet anyway, so the regime will spin this as a “good thing.”
You are so right, we don’t need no stinkin’ food according to Michelle. We are supposed to be dieting. Forget eating healthy... just don’t eat.
4. call it another sign of our economic recovery
Biggest one month rise since before Jimmy Carter. Interesting.
Just wait, the worst is yet to come in food cost push.
Wait until we see the impact of HR2748/S.510/HR2751 FDA Food (Takeover) Safety Bill. I expect that bill which has a cost estimate to implement of 1.4 Billion dollars to add 25% to the cost of most food products. (dependent of % of imported food)
This is a horror bill that both the Dems and Pubbies passed in the last minutes of the Lame Duck Session of the 111th Congress. It was signed into law from HR2751 as Public Law No. 111-353
The wording of the bill “is not yet available” on Thomas Register.
But I finally found a copy of it at the GPO.
Text version:
http://frwebgate2.access.gpo.gov/cgi-bin/TEXTgate.cgi?WAISdocID=K4p6zK/38/1/0&WAISaction=retrieve
.pdf version:
—
It appears that the FDA is continuing to rewrite the details of this law by definition and re-iterpretation now and although it was signed into law is not finished. Reminds me of a tactic that Pelosi used on the DeathCare Bill.
Let’s hope Japan doesn’t dump those $1T in US treasuries they hold on the market...
Looks like they’ll have to, doesn’t it?
Could anyone name ONE instance of something positive out of this administration? By the time this fool is done with his four years it possibly could take a two term President to turn this around.
We are into a decade of declining growth and increased wealth. This is the perfect storm for all of the baby boomers going into retirement.
I believe we have not seen the worst of his hand yet.
The volatile categories of food and fuel are excluded from the indices simply because they do fluctuate rapidly and in both directions. They try to get the inflation figure from things that are more stable and rise and fall slowly so that trends may be deduced..............
Sorry my bad, “decreased wealth”. I was hoping for that change thingy.
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