Friday, October 08, 2010
Producer prices up - and another view of house prices
Posted by David Smith at 02:00 PM
Category: Thoughts and responses

After the Halifax reported a 3.6% plunge in house prices in September, a calmer view is provided by Acadametrics, which produces its monthly house prices index for LSL Property Services. It has prices rising by 0.2% in September, and 7% on a year earlier, though they have essentially been flat over the past six months; up by just 1%. Perhaps the best news was in the transactions data, up 3.4% in September for a rise of 11.5% on a year earlier. More here.

Weak September US payroll numbers, down 95,000 on government cutbacks, add to the argument for more quantitative easing by the Federal Reserve. Here, the Bank also has to keep an eye on the inflation numbers. Producer price figures showed output price inflation edging down from 4.7% to 4.4% but input price inflation climbing from 8.7% to 9.5%. More here.