The bad news in today’s PPI inflation report: pork prices surged yet again, rising 6.8% on the month, and up 24% from a year ago, while beef/veal costs rose by 2.1% on the month to a record indexed 251.8% (we dread to wade through the BLS “hedonic-adjustment” calculation for that particular food product) and are now up a sticky 27.4% from a year ago, which is just shy of the recent record Y/Y jump of 28.6% posted in August. So for all those who still see no inflation, could you please share you Delmonico’s expense account with the rest of us?
The good news: for the first time in years, booze prices declined from a year ago. So, with compliments of the hoapy president: don’t be moapy and start drinking cheap booze, preferably early and often, as you try to remember – in an alcoholic daze – what beef tastes like.
via Zero Hedge http://ift.tt/1uqoVLV Tyler Durden