Morning Yuk

from Bloomberg (again) Producer Prices in U.S. Decline More Than Forecast

"Wholesale prices in the U.S. fell more than forecast in July as energy costs receded, capping the biggest 12-month drop on record and showing inflation will not be an immediate concern for Federal Reserve policy makers (italics mine)..... Compared with a year earlier, companies paid 6.8 percent less for goods, the biggest decrease since records began in 1948.....

and, "A record amount of excess capacity will prevent production bottlenecks from developing....."

WHEW had me worried.

And this as well..

Aug. 18 (Bloomberg) -- The U.K. inflation rate unexpectedly held at 1.8 percent in July as the cost of computer games, DVDs and alcohol rose, a sign the economy is staving off deflation as the recession eases.

What can I say I'm right there with ya.

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