U.S. wholesale prices rise 0.7% in March

Marketwatch ^ | 4.14.11 | Jeffry Bartash

[Free Vulcan]

WASHINGTON (MarketWatch) — U.S. wholesale prices rose sharply in March for the sixth consecutive month, spurred once again by higher gasoline costs, although food costs fell, the Labor Department said Thursday.

The government’s producer-price index climbed a seasonally adjusted 0.7% in March, following a 1.6% gain in February and a 0.8% increase in January.

The core rate, which excludes the volatile food and energy categories, rose 0.3% in March. Higher prices for light trucks accounted for a large chunk of the increase.

Investors and the Federal Reserve usually view the core index as a better gauge of inflationary pressure because it excludes food and energy, prices of which often fluctuate.

[Uncle Ike]

” although food costs fell, “

Ummmmmm...

Yeah....

[frogjerk]

The core rate, which excludes the volatile food and energy categories

Food, fuel? Who need them? I mean these don't affect any American's bottom line so lets exclude if from the "Core" Rate. -insanity

[Kakaze]

Food prices fell?

Here they didn't, they either increased or remained the same................except for one little thing, a pound of bacon is now 12 oz.

That package of food may look the same and take up the same space in the pantry but it sure doesn't feed as many.

[KarlInOhio]

The government’s producer-price index climbed a seasonally adjusted 0.7% in March, following a 1.6% gain in February and a 0.8% increase in January.

I hate financial reporting because they never make clear if these are month-to-month gains, month-to-month but switched to an annual rate, or year-to-year gains. If they are month-to-month then the annual inflation rate is 13.1%. Yikes - Carter's back.

[Right Brother]

How can food costs ‘fall’ if the cost of food production rises? The media will always report that they found a little gold nugget in the pile of manure.

[cumbo78]

Excuse my language, but THESE LYING BASTARDS! Do any of these people shop? Food prices are down? Everything has gone through the roof. ENOUGH IS ENOUGH. Time to clean house! Get these corrupt bastards out now!

[John W]

Amen.

[ScottinVA]

The government’s producer-price index climbed a seasonally adjusted 0.7% in March, following a 1.6% gain in February...

And of course the MSM spin will be:

"All praise and glory be to the His Eminence, the Most Holy and Revered Lord Obama, who, by his mastery of all things, has by himself overcome the Republican evildoers and cut the inflation rate by more than 50% IN A SINGLE MONTH!! Yes We Can!!"

[AAABEST]

U.S. wholesale prices rose sharply in March for the sixth consecutive month, spurred once again by higher gasoline costs, although food costs fell...

???

Food prices and agricultural commodities have done nothing but skyrocket.

Which planet were these figures derived from?

[nhwingut]

a pound of bacon is now 12 oz.

And that 5 pound bag of sugar is now 4 pounds (if you look closely).

[expat_panama]

Food prices have never fallen. There is not one single grain, fruit, or meat price that has ever dropped. Even during the deflation of the ‘30’s farmers and grocers made record sales.

[musicman]

"How can food costs ‘fall’ if the cost of food production rises? The media will always report that they found a little gold nugget in the pile of manure."

[OCCASparky]

prices of which often fluctuate

Just not lately.

[Mr Rogers]

“Which planet were these figures derived from?”

“Food costs are calculated by seasonally adjusting costs of arugula and caviar in Obamaville.”

http://www.inflationsatire.gov

[unkus]

Amen to that!

And start with the evil bastard at the top.

[Right Brother]

LOL.

[RandallFlagg]

The enemedia want us all to believe that food is delivered to the stores via magical unicorns pooping out pop tarts, steaks and salad dressing.

[dalight]

The real problem is that this "Core" rate is reflecting finished goods. When you look at Commodities prices, the true Horror is obvious.

Commodities are increasing at a rate of 5% month over month in direct response to QE2. This must work its way into the Core rate or the rate has to be intentionally a lie.

[OB1kNOb]

Investors and the Federal Reserve usually view the core index as a better gauge of inflationary pressure because it excludes food and energy, prices of which often fluctuate.

Fixed it.