Inflation?
- Gold rises on inflation concerns. "An extraordinary amount of liquidity has been pumped into the system this year," said Peter Grant, senior analyst at USAGOLD. "I anticipate further debasement of all currencies, including the dollar, which will ultimately drive gold prices higher."
- Inflation measures fall. The Labor Department reported that U.S. wholesale prices dropped 0.4 percent in September, in line with expectations as another fall in energy costs eased price pressures.
Er... Well, in the latter report, it does mention that despite the drop in oil prices, ex-food and energy, inflation was higher. It's funny how when oil prices were surging, the news ignored the ex-food and energy number. Now that oil prices are falling, the news is focusing on the ex-food and energy number.
It seems like the news wants to report that we have runaway inflation no matter what the numbers are. Additionally, if you parse the numbers you can always find something in there that supports whatever view you want to have.