The Lesson For Wall Street: Consumers Won't Put Up With Higher PricesBy
Let's face it: The August producer price index was downright ugly. Its 0.6% jump scared the pants off Wall Street because it seemed to confirm the markets' worst inflation fears. Stocks, bonds, and the greenback all nose-dived. The core PPI, excluding energy and food, also rose an unexpectedly steep 0.4%, raising fears that August's consumer price index would echo the bad news.
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