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Economy

PPI: Wholesale Inflation Still Elusive

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By Douglas A. McIntyre Updated Published
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Money Stack ImageWholesale inflation measured by producer prices for the month of May is out, and the fears of inflation are not yet working into the system.  The nominal PPI came in +0.2% for May and the core PPI on an ex-food and energy basis came in with a drop of -0.1%.  Dow Jones listed their consensus estimates as +0.6% on headline PPI and +0.1% on core PPI.

There were slight gains in intermediate and finished goods.  The intermediate goods came in at +0.3% and finished goods rose by +0.2%.

If this sounds as though we are heating up, consider that this PPI reading is down roughly 5% year over year.  A year ago, we had all of the commodity prices going through the roof.

Jon C. Ogg
June 16, 2009

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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