Relevant:
- Wholesale prices rise 1.6 pct. due to biggest jump in food costs in more than 36 years
- U.S. Consumer Prices Rose 0.2% in October; Core Unchanged
- U.S. home prices make biggest jump in 6 years
- Home Prices in 20 U.S. Cities Rise by Most in Two Years: Economy
- U.S. Retail Sales Increased in January (BUT IT'S BASICALLY STILL JUST INFLATION)
2017-09-13 — bloomberg.com
PPI rose 2.4% y/y after 1.9% gain in prior 12-month period... About three-fourths of the monthly gain in the headline gauge came from goods, most of which was due to a 9.5 percent jump in gasoline, along with the biggest rise in jet-fuel costs since 2009. Since the PPI pricing date was Aug. 15, the data shouldn't have captured the effects of Hurricane Harvey, said Scott Sager, a Bureau of Labor Statistics economist.
This would seem to take some of the wind out of the sails of that 3% median income gain announced yesterday (which, if you recall, was in part due to a rejiggered methodology... so we wonder now if it was even really greater than 2.4%, which is to say, greater than nothing at all, on an inflation-adjusted basis...)
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