Posts Tagged ‘Bureau of Labor Statistics’
by Christina Lee on July 15th, 2009
The Bureau of Labor Statistics found that wholesale prices rose higher in June than predicted by economists, to the highest level seen in nearly two years.
After incremental increases in April and May, wholesale prices – as measured by the producer price index – rose by 1.8 percent, or twice as high as expected. Just as seen in November 2007, when wholesale prices rose by 3.2 percent, rising energy costs made up most of this increase. Gasoline prices alone rose by 18.5 percent last month.
But, without the consideration of food and energy costs, wholesale prices would have increased by... Read more »
by Christina Lee on June 16th, 2009
Wholesale prices rose just by 0.2 percent last month, following a 0.3 percent increase in April and a 1.2 percent decrease in March.
Economists made predictions ranging from zero change to a 2.3 percent gain, according to Bloomberg. And while they had initially feared any sign of inflation, actual prices suggest that they now have no need to worry.
“There’s no story on inflation here, and deflation doesn’t seem to be a concern,” said Anika Khan, Wachovia economist, to CNN.
Most of the major increases and decreases since last month occur in food and energy prices, according to the Bureau... Read more »
by Christina Lee on April 14th, 2009
Wholesale prices had declined for the first time this year, surprising economists who largely did not expect them to change at all.
For some, this decrease could be interpreted as a preventive measure against inflation, as Bloomberg reported this morning. Wholesale prices last declined in December 2008, by 1.8 percent.
Measured by the producer price index, wholesale prices serve as one of three gauges of inflation calculated monthly by the Bureau of Labor Statistics.
Rapidly declining energy prices led the overall decrease, as the costs of both gasoline and home heating oil each declined by 13 percent.
On the other... Read more »
by Christina Lee on March 18th, 2009
Wholesale prices rose by 0.1 percent over the course of February – now the second noted increase in a row since a 1.9 percent decline in December.
The Bureau of Labor Statistics reported the rise yesterday through its regular tracking of wholesale prices of crude, intermediate and finished goods, cumulatively referred to as the producer price index.
Finance and economics journalist James Picerno called the price increase paired with the 22 percent rise in new housing starts “more than just a dead cat bounce.”
“Is it safe to declare the deflation risk over? No, not yet, but it’s not too... Read more »
by Christina Lee on December 12th, 2008
A collective analysis of studies released this week paint a revealing, evocative portrait of the nation’s economic environment. As prices drop, spending drops even further, as an opaque cloud of consumer pessimism remains hovering over the nation. But below, amongst all of the downward activity, researchers are searching for that cloud’s silver lining.
On the Ground Below
The Bureau of Labor Statistics, National Retail Federation, and Census Bureau released reports indicating that wholesalers and retailers are still adjusting to the economic climate, as price indexes continued to fall:
Retail container traffic fell in November for the 16th month in a... Read more »
by Christina Lee on November 26th, 2008
Turkey, stuffing, pumpkin pie – all Thanksgiving staples, though this year they also collectively serve as a reflection of present economic conditions.
Nationwide, Thanksgiving food prices rose 6 percent from last year, according to the American Farm Bureau Federation. In addition, a meal for a family of ten this year will cost an average of $44.21, over $2 more than what it cost in 2007.
Consumers may wonder how, considering today’s lower gas prices, they are still ending up paying more for tomorrow’s meal – specifically, as much as $2.20 more for a 12-oz. package of brown-n-serve rolls and $3.12... Read more »
by Christina Lee on November 18th, 2008
The Bureau of Labor Statistics reported today wholesale energy and gasoline prices dropped dramatically in October – ultimately, a stark indication of decreasing demand resulting from the global economic downturn.
While wholesale energy prices fell 12.8 percent, wholesale gasoline prices dropped 24.9 percent after just a 0.5 percent decline last month.
So far in November, falling oil barrel prices and consumption have made current gasoline prices the lowest since summer 2005, according to the U.S. Department of Energy. The average retail price also dropped yesterday to $2.132 a gallon – a 2008 all-time low after prices peaked to $4.165 in... Read more »
by Christina Lee on October 21st, 2008
Wholesale prices dropped for the second month in a row after reaching the highest annual rate in 27 years, according to a U.S. Department of Labor report.
Prices fell by 0.4 percent in September, following a 0.9 percent decrease the previous month. They are still 8.7 percent higher than they were in September 2007, as the Bureau of Labor Statistics reported last week.
The two-month drop in wholesale prices – collectively referred to as the producer price index – follows a 1.2 percent month-to-month increase and a 9.8 percent rise from July 2007, that being the sharpest increase since a... Read more »