The Bureau of Labor Statistics (BLS) reported this morning that August’s rate of inflation was 0.4 percent, holding steady at 3.4 percent for the year. That matched analysts’ pre-report expectations and was even with July’s rate of 3.4 percent. For the year, food was up 2.7 percent, with most of the increase driven by food away from home at 3.4 percent, while food at home was up 2.2 percent. The big increase came from energy, which was up 16.3 percent, on a 4 percent increase in energy services and 28 percent in energy commodities. For commodities, gasoline was up 27.4 percent, and fuel oil was up a whopping 52 percent. The core CPI, or what the Fed watches – minus the volatile categories of food and energy – w...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.