We’re in the double digits

The Producer Price Index is out and it shows a change in intermediate goods in March 2008 from 12 months ago (unadjusted) at a 10.5% increase. This follows a 8.8% rate of increase in February and January. Focusing on energy alone, the news is devastating: “The intermediate energy goods index advanced at a 46.4-percent SAAR (Seasonally Adjusted Annual Rate) from December 2007 to March 2008 after moving up at a 50.6-percent SAAR during the final quarter of 2007.”