The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

Washington (AFP) — U.S. producer prices edged higher in July, with gains slowing sharply from the prior month, official data released Friday showed.

The Labor Department said its producer price index rose 0.1 percent in July, after a 0.4 percent increase in June.

Rises in services prices, primarily in transportation and warehousing, accounted for the PPI increase, while goods prices were unchanged, the department said.

Analysts on average had forecast a 0.2 percent increase.

Excluding food and energy prices, the PPI rose 0.2 percent in July, matching estimates.

Food prices rose 0.4 percent while energy prices declined 0.6 percent, including a hefty 2.1 percent fall in gasoline prices.

The year-over-year increase in producer prices fell for a third straight month, to 1.7 percent.

The report showed tepid inflationary pressures as the U.S. economy continues to grow at a modest pace.

“Pipeline pressures from core materials prices remain very muted, so the only threat here comes from companies seeking to offset feared/actual higher labor costs by lifting prices,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics, in a client note.

The Federal Reserve, with a dual mandate of price stability and maximum employment, has said inflation remains below its 2.0 percent target over the long run.

The Fed’s preferred inflation measure, the personal consumption expenditures price index, slowed to an annualized 1.6 percent rate in June from 1.8 percent in May.

AFP Photo/Bill Pugliano

Interested in economic news? Sign up for our daily email newsletter!

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Former anti-vaxxer Linda Edwards

Screenshot from CNN

We have seen plenty of stories about stubborn anti-vaxxers, but what about those vaccine resisters who became seriously ill with the deadly coronavirus that is ripping through unvaccinated communities? As a CNN segment shows, many who survived are singing a different tune now.

"If I live through this," one former anti-vaxxer said of her life-threatening bout with COVID. "I want to go on a mission to try to help people to see that it is not worth not taking the vaccine."

Keep reading... Show less

From left, Reps. Matt Gaetz, Louie Gohmert, and Marjorie Taylor Greene

Screenshot from RSBN

Reprinted with permission from Alternet

Reps. Matt Gaetz (R-FL), Louie Gohmert (R-TX), and Marjorie Taylor Greene (R-GA) staged a press conference immediately after being denied entry to a District of Columbia corrections facility allegedly holding defendants who face charges related to the January 6 insurrection.

Keep reading... Show less
x

Close