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NATIONAL ASSOCIATION OF WHOLESALER-DISTRIBUTORS REACTION TO PRODUCER PRICE INDEX

 WASHINGTON, June 11 /PRNewswire/ -- Phil Jaffa, director of communications of the National Association of Wholesaler-Distributors (NAW), issued the following in response to release today of April Producer Price Index (PPI) figures:
 Most economists have maintained that recent sharp price increases at the producer and consumer levels have been an aberration. The economists appear to have been right. Today's release of the monthly Producer Price Index shows no increase at all in overall finished goods prices.
 Excluding food and energy, the so-called core rate of inflation was a modest 0.2 percent. Energy prices were down by 0.6 percent, led by a drop in gasoline prices. The price of passenger cars declined 0.6 percent and intermediate goods were down 0.2 percent.
 Crude materials are often a good indicator of the level of economic activity. With the exception of natural gas prices, which were up 13 percent, virtually all measured categories of crude materials were relatively stable. The economy is growing very slowly and price pressures are just not on the horizon.
 The Pru?cer Price Index is an index of prices at which wholesaler- distributors buy from their suppliers.
 NAW is a federation of 109 national commodity line associations representing more than 40,000 firms in the wholesale distribution industry.
 -0- 6/11/93
 /CONTACT: Phil Jaffa, director-communications, National Association of Wholesaler-Distributors, 202-872-0885/


CO: National Association of Wholesaler-Distributors ST: District of Columbia IN: SU: ECO

IH-DC -- DC014 -- 1134 06/11/93 14:38 EST
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Publication:PR Newswire
Date:Jun 11, 1993
Words:246
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