May PPI Data Postponed

[Renew Deal]

By Joseph Rebello
Dow Jones Newswires

WASHINGTON -- The U.S. Bureau of Labor Statistics has postponed the release of the producer price index for May, citing the same "unexpected" difficulties that caused the agency to delay the release of the index on four previous occasions this year.

The agency, which describes itself as the "principal fact-finding agency for the federal government" with respect to labor economics and statistics, said the PPI's release has been "postponed until further notice." When a new release date is set, the BLS said it will make that information available on its Web site one day in advance.

"BLS staff are working to resolve unexpected difficulties in calculating the index this month," the agency said in a statement, adding the PPI won't be released before Tuesday.

The announcement caught the country's largest commodities exchanges off guard. Both the Chicago Mercantile Exchange and the Chicago Board of Trade had extended their trading hours for Thursday just to accommodate the release of the May PPI.
<snip>

http://www.smartmoney.com/bn/ON/index.cfm?story=ON-20040609-000767-1612

I guess they don't like the number again.

[ewagner]

1. It was posted yesterday

Said something about calculations being "confusing" and so they delayed the report indefinitely.

Looking for the link...post it when I find it.

ON EDTI: HERE IT IS

<http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=613261>

on edit edit: beat me to it!!!!!

[Soloflecks]

2. That's the excuse now?

Well, that's not what was said yesterday! The calculation problem is that the result ain't what they want to publish.

http://money.cnn.com/2004/06/09/news/economy/ppi.reut/index.htm
WASHINGTON (Reuters) - The release of the U.S. Producer Price Index has been delayed indefinitely due to renewed calculation problems with the report, the Bureau of Labor Statistics said on Wednesday.

"BLS staff are working to resolve unexpected difficulties in calculating the index this month," the bureau said in a release.

A spokesman said the report, which measures inflation, would not be issued before June 15. He said a day's notice would be given before any release of the index, which had been delayed several times earlier this year due to calculation problems.

[Warpy]

3. Anybody who has bought anything at all in the past 2 months

knows that inflation is not only present, but is present in staggering amounts across the board, thanks to increased energy costs and a decline in the almighty dollar. That the PPI is going to be bad news for the Bush junta is not news at all, but completely expected, and will be passed on for months to come in the other number they've fudged, the CPI.

[Zynx]

4. Remember, that according to official numbers

Oil and food are actually dropping in price. That's what the last PPI number said. *rolls eyes*

Cooked books.

[rapier]

5. notes

What can you say? It's hard not to assume currupt intent in the delay except that everyone expected a big up number so why wait?

If it was a bit too big then just lie, what's the big deal? The massive touting of the comming fall in energy prices along with the sudden drop Monday in oil, right on schedule, would have allowed them to gloss over any high PPI number with the promise of better days ahead. Of course that would have been belived. It is believed. Everything was in place psychologically for a bad number, so that it wouldn't mean a thing.

Since there was an auction this week it was the perfect setup to put in a short term high in long rates anyway.

I heard the number will be out on the 15th.

AL has painted himself into a corner here promising action to fight inflation but he CANNOT raise the discount rate beyond a nominal amount. We need that negative 4% rate to keep things afloat.

While everyones eyes are now filled with inflation Al knows the danger is deflation. Deflation of financial assets and real estate that is. The price of things you need doesn't mean a thing to these people. It's simply an irrelevancy execpt to the extent that all we little people keep making our monthly payments on our debts.