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Monday, October 17, 2005

Biggest Inflation Jump In 25 Years

Buckle up:
The median estimate of 21 economists surveyed by Dow Jones Newswires and CNBC has soaring oil and natural gas prices pushing up overall PPI to 1.4 percent in September. The core nonfood, non-energy reading is expected to rise by 0.2 percent. The headline consumer price index for September showed a 1.2 percent increase last week, the largest one-month gain in 25 years, though the nonfood, non-energy increase was a much more modest 0.1 percent. Federal Reserve policy-makers have been a veritable choir in recent weeks, alerting markets to the risk of inflationary price pressures at a time when the bond market had started to view high energy prices as a tax on consumption rather than a driver of inflation.

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