Great news America - your standard of living just dropped little more as producer prices rose by 2.6% YoY in September, the fastest rate of increase since Feb 2012 - driven by a surge in energy prices.
Some highlights:
Authored by Gail Tverberg via Our Finite World blog,
World GDP in current US dollars is in some sense the simplest world GDP calculation that a person might make. It is calculated by taking the GDP for each year for each country in the local currency (for example, yen) and converting these GDP amounts to US dollars using the then-current relativity between the local currency and the US dollar.
Authored by Gail Tverberg via Our Finite World blog,
Authored by Gail Tverberg via Our Finite World blog,
The Federal Reserve would like to raise target interest rates because of inflation concerns and concern that asset bubbles are forming. Part of their concern seems to arise indirectly from the rise in oil prices, relative to their low level in early 2016.
Figure 1. WSJ figure indicating likely reasons for rate hike.