Raw Materials up 22.6% since last year

[Kruzen]

Raw materials have increased in price 22.6% since last year, but the state says there's only 1.8% inflation. How does it cook these numbers?

Price Change from July 2010 — July 2011
Producer Price Index — crude goods: 22.6%
Producer Price Index — intermediate goods: 11.6%
Producer Price Index — finished goods: 7.2%
Consumer Price Index — all items: 3.6%
Consumer Price Index — excluding food and energy: 1.8%

http://mises.org/daily/5574/On-the-Brink-of-Inflationary-Disaster

[KenC]

Your "evidence/data" is an editorial from a self-proclaimed libertarian institute?

[Earendil]

Your "evidence/data" is an editorial from a self-proclaimed libertarian institute?

Checkmate.

[KenC]

China is buying/hoarding a lot these days...

[Kruzen]

Checkmate.

It's not a battle, it's a topic for discussion

[Kruzen]

Your "evidence/data" is an editorial from a self-proclaimed libertarian institute?

Data is from the fed

[KillaCam]

fuck you fucking SIG!

[KenC]

Is there a break down of the raw materials? Some specialized ones have skyrocketed, but others have remained stagnant.

Doesn't the increase in commodities investing have something to with it? Gold and silver are raw materials.

[mrsleeve]

This is what happens wheen you print a fuck ton of unbacked mony

[Kruzen]

Is there a break down of the raw materials? Some specialized ones have skyrocketed, but others have remained stagnant.

Doesn't the increase in commodities investing have something to with it? Gold and silver are raw materials.

Looks like this is the breakdown of producer industries as measured by the BLS. Grouping by product are here: http://bls.gov/news.release/ppi.t03.htm Goods by stage of processing here: http://bls.gov/news.release/ppi.t01.htm

212221 Gold ore mining
212222 Silver ore mining
236211 New industrial building construction
311119 Other animal food manufacturing
313210 Broadwoven fabric mills
316110 Leather and hide tanning and finishing
321214 Truss manufacturing
321991 Manufactured home (mobile home) manufacturing
324191 Petroleum lubricating oil and grease manufacturing
325194 Gum and wood chemical manufacturing (1)
325220 Artificial fibers and filaments manufacturing (2)
325920 Explosives manufacturing
327211 Flat glass manufacturing
331492 Secondary processing of nonferrous metals, other than copper and aluminum
332312 Fabricated structural metal manufacturing
332322 Sheet metal work manufacturing
332410 Power boiler and heat exchanger manufacturing
332420 Metal tank (heavy gauge) manufacturing
332431 Metal can manufacturing
332919 Other metal valve and pipe fitting manufacturing
333611 Turbine and turbine generator set units manufacturing
333991 Power-driven handtool manufacturing
333994 Industrial process furnace and oven manufacturing
335110 Electric lamp bulb and part manufacturing
335122 Nonresidential electric lighting fixture manufacturing
335314 Relay and industrial control manufacturing
336120 Heavy duty truck manufacturing
336611 Ship building and repairing
336612 Boat building
447110 Gasoline stations with convenience stores
453930 Manufactured (mobile) home dealers
454210 Vending machine operators
721120 Casino hotels

[gwb72tii]

the admin changed the formula for calculating inflation. fuel and food don't count anymore, LOL.

as it did for calculating unemployment, where if you have given up your no longer unemployed, ROFLMFAO

[joshh]

the admin changed the formula for calculating inflation. fuel and food don't count anymore, LOL.

as it did for calculating unemployment, where if you have given up your no longer unemployed, ROFLMFAO

I was able to get a 1.75" tube bending die for $220 which now costs $270. It's not in our imaginations.
Interestingly enough that's about 23%.