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U.S. Inflation Jumps to 5.2%

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  • U.S. Inflation Jumps to 5.2%

    QUOTE
    (Rapaport...October 14, 2005) Inflation in the United States jumped 1.2 percent during the month of September -- that was the largest single month jump in 25 years.

    Core inflation is up 2 percent for 2005, which excludes the volatile sectors of food and energy.

    At a seasonally adjusted annual rate consumer prices increased 9.4 percent in the third quarter of 2005, according to the government statistics, following increases in the first and second quarters at annual rates of 4.3 and 1.9 percent respectively. Averaged-out the annual rate of inflation is 5.2 percent compared with 3.3 percent in 2004.

    The U.S. Labor Department reports 90 percent of the inflation hike was the result of higher oil prices. The Federal Reserve said the nation's factory output fell 1.3 percent in September, the largest one-month drop in 23 years.

    Retail sales rose 0.2 percent in September, following a revised 2 percent drop in sales for August.[/b][/quote]
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  • #2
    The true picture is surely worse. The government inflation statistics are skewed to understatement.
    The Dude abides.

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    • #3
      QUOTE(Moe_Szyslak @ Oct 14 2005, 05:47 PM) Quoted post
      The true picture is surely worse. The government inflation statistics are skewed to understatement. [/b][/quote]

      I am sure it'll be worse in the short term due to the brief surge in energey prices we had.

      This will level out if oil continues to drop.

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      • #4
        Higher oil prices have traditionally led to recessions.

        Except this one could well become a depression.

        Color me not optimistic at all.
        Go Cards ...12 in 13.


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