Inflation is about to roar, the economy isn’t as strong as President Donald Trump would have you suggest, and the MLB season is about to begin (was that just written?).
A bunch of data has been released, and it’s time to crunch the numbers.
In January, U.S. wholesale prices spiked 0.4 percent, driven by higher oil prices. Overall, the producer-price index (PPI) climbed 0.4 percent, which suggests that higher prices are far more widespread than market experts are letting on: power cranes, transportation, appliances, scrap metal, and real estate services.
The 12-month rate of wholesale inflation jumped to 2.7% last month.
U.S. manufacturing was relatively flat as industrial production fell by a tepid 0.1 percent in January, but it was the first decrease following four consecutive gains. It is also lower than Wall Street’s projections of a 0.3 percent increase.
Moreover, two important metrics of manufacturing trends report impressive growth in February. The Philadelphia Fed manufacturing index rose to a reading of 25.8 (up from 22.2), while The Empire State Index tumbled to 13.1 (down from 17.7).
On Wednesday, pitchers and catchers reported to spring training. Fangraphs has the Astros to be the best team in the American League, while Cubs and Dodgers are tied for the best record in the National League.
dtinusforcongress says
What most call inflation I call devaluation of the dollar. In 1963 a gallon of gas was about a quarter (quarters were 90% silver) now it cost $2.50 a gallon. A quarter in 1963 is worth about $4.50 now so if gas was the same it would be $4.50 today. Gas is actually cheaper now than then! Of course in order to have the same purchasing power today as someone with the $7500 annual salary did then you would need $117,000.00 today. So you don’t think the debt and printing money isn’t a problem? How cute!