PPI came in stronger than many economists expected today. However, it is no surprise to readers of Mike Panzer’s research.
His work suggests that import prices are a leading indicator of U.S. inflation. Import prices
Source: Michael Panzner
This suggests that inflation is far from dormant, courtesy of increasing import prices.
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Quote of the Day:
“Get inside information from the president and you will probably lose half your money. If you get it from the chairman of the board, you will lose all your money.”
"The dollar’s rough path just got rockier.
"Another four years of the Bush administration has heightened some fears of continually deep trade and budget deficits, weighing on the dollar’s already depleted value. Throw in high oil prices and lackluster U.S. economic growth and investors betting on the dollar may look elsewhere for better returns, which could ratchet up pressure even more on the dollar."
Graphic courtesy WSJ
Who wins and loses with a weak dollar . . .?