Producer prices decreased in November
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Manufacturing News, Source : TheManufacturer.com
Published : 13 Dec 2002 22:19
November’s decline of 0.4% in producer prices indicates that deflation stands as a greater danger than inflation in the months ahead, according to the Bureau of Labor Statistics’ latest report.
“Clearly, we are caught up in an unfortunate synergy of weak investment, falling energy prices, and an overvalued dollar that is keeping a lid on price increases at the producer level,” said Jerry Jasinowski, president of the National Association of Manufacturers.
“With a gradual recovery expected in the early months of 2003, deflationary pressures will remain strong, at least through the first half of next year. The prospect of deflation is one that sends shudders through financial markets and underscores the pressing need for fresh economic stimulus when the 108th Congress convenes next month.”
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