Following our previous post on oil price we compare the price of oil futures (dark blue) and PPI of oil (BLS estimates) between 2007 and September 2011. Even simple visual inspection shows that the September's PPI estimate differs from its expected value when converted from oil price. Why?
I have replaced the Figure with not seasonally adjusted PPI and medium mon thly oil price between 2008 and September 2011. Now the difference in September is prominent.