Producer Price Index Report to Be Delayed WASHINGTON (AP)--The Labor Department won't release a report on February's wholesale prices next week because of difficulties with converting current categories to a new classification system, the department said Friday. It's the second Producer Price Index report that has been delayed by the classification changeover. January's report couldn't be released as originally scheduled on Feb. 19. ``The length of that delay now means that the release of February data, originally scheduled for Friday, March 12, must also be postponed,'' the department's Bureau of Labor Statistics said. New release dates have not been set. It is rare for the government to delay the release of an economic indicator. The bureau produces the monthly PPI, which tracks the prices of goods before they reach consumers. The release of the Consumer Price Index, also put together by BLS, is not affected by the PPI delays. The CPI measures the prices of goods and services at the consumer, or retail, level, and is the government's most closely watched gauge of inflation. have they delayed this thing because they couldnt believe how hi the numbers were and didnt want to shock the market? you cant have the price of every input commodity skyrocketing and not have it show up someplace. we have the price of steel,copper,all metals,oil,ag commodities,lumber, you name it all at or near highs.
greenie knows only thing holding up the house of cards is 1% fed funds. And he wants to retire on top. Thats why there is every incentive to fudge the numbers for as long as possible. There is crazy inflation out there. Probably running on the order of 3-4%. If they released the real PPI we would have the biggest financial meltdown the world has ever seen.
There seems to be so much evasion, deception and deceit in this country in every sphere. Quiet scary!
If a surprise then I think it will be to the downside. Basic commodiites are up but the labor is down because of its source. I believe the Fed is still worried about deflation more so than inflation. John
You can always trade the new CPI futures at the CME: http://www.cme.com/dta/del/delayed_...uctFoiType=FUT&ProductVenue=G&ProductType=itr not much activity so far...... (meaning no vol nor OI)
I couldnt agree more about deflation....but, in order for that to happen, the BOJ will have to stop supporting the dollar, and the dollar will have to crash hard. For somereason, i dont see that happening, to many "FORCES" and the dollar has been in a very orderly decline as the FEDs wanted. I think we will see inflation numbers shock the shit out of the market soon if OIL doesnt come down. The funny thing is, the house of cards is not yet ready to come down, could be a while.......even with a 125 basis on the upside over a few quarters. I hear ya, but man, FORCES that be, including the SHEEP in the Mutal Funds will make it difficult for a while.
No wonder why people distrust gov's stats: they change classification everytime they want to fit their needs propaganda ! This is general for all countries example for UK below (as for France there is not even public debates the mentality is too much socialist). http://www.elitetrader.com/vb/showthread.php?s=&threadid=26243&highlight=statistics Statistics: A Matter of Trust Chapter 1 -------------------------------------------------------------------------------- Introduction 1.1. Reliable official statistics are a cornerstone of democracy and are essential to good public management and accountability. The public, government and Parliament all have a legitimate interest in statistics which provide an objective account of the economy and society, both over time and geographically. Such statistics offer a window on the work and performance of government itself. They also help government in the formulation and evaluation of policies and in the management of services for which they are responsible. It is the responsibility of government to provide reliable official statistics and to ensure the public has confidence in them. 1.2. The current range of UK official statistics is wide, covering all key areas of national life. However, public confidence in the integrity of official statistics has been called into question. Reports by a number of organisations and bodies, including Parliament and <font color=blue>the Royal Statistical Society have raised concerns about the quality of statistics and their degree of freedom from political interference</font>. <font color=red>Surveys indicate that the public shares this concern</font>.
This really is an outrage that is not getting enough news play. They should have released the data the "old" way, with an explanation. No matter how bad it would have been, it would have been a one day event that would have been totally eclipsed by Friday's jobs report. Now it is getting some attention, and people are perhaps beginning to pay undue attention to it. Anything that is released now will be suspect. In any event, they need to release the old and new number so people have a basis for comparison.