In the Grand Rapids, MI area, from June 1, 2001 to mid-July 2007, there have been 245 price hikes over a period of about 2230 days. That averages out to a price hike every 11 days.
When there is a price hike, when does it occur?
Mondays: 28 times; 11.4%
Tuesdays: 56 times; 22.9%
Wednesdays: 50 times; 20.4%
Thursdays: 98 times; 40.0%
Fridays: 13 times; 5.3%
(All 13 Friday price hikes have occured since mid-2004.)
Remember, the reason that Thursday is a popular price hike day can be traced back to the report the government issues each Wednesday. If the report is negative, prices rise on the market Wednesday and it filters down by Thursday. If the report is good, however, a price hike is not likely.