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PRODUCER PRICE INDEX REACTION: INFLATION UP IN SMOKE, SAYS NATIONAL ASSOCIATION OF WHOLESALER-DISTRIBUTORS

 WASHINGTON, Sept. 10 /PRNewswire/ -- Ron Schreibman, vice president of the National Association of Wholesaler-Distributors (NAW), issued the following response to the release today of August Producer Price Index (PPI) figures:
 I'd say inflation went up in smoke last month thanks to the huge drop in tobacco prices. Even without the tobacco decline, however, producer prices would have risen only two-tenths of 1 percent, certainly a tolerable amount.
 The coming months point toward continued overall price stability, with probable energy declines offsetting likely food price increases due to the Midwest floods.
 If Alan Greenspan has any lingering notion that inflation might yet pose a threat, this producer price report sends the strongest signal of the year that inflation simply is a non-factor in the present economy.
 The Producer Price Index is an index of prices at which wholesaler- distributors buy from their suppliers.
 NAW is a federation of 110 national commodity line associations representing more than 40,000 firms in the wholesale distribution industry.
 -0- 9/10/93
 /CONTACT: National Association of Wholesaler-Distributors, 202-872-0885/


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

KD-DC -- DC009 -- 0686 09/10/93 10:49 EDT
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Publication:PR Newswire
Date:Sep 10, 1993
Words:194
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