Thursday, February 18, 2010

PPI: Headline Up 1.4 Percent; Core Prices Up 0.3 Percent

In January, the Producer Price Index for finished goods jumped upwards 1.4 percent, following an increase of 0.4 percent in December. The PPI has increased quickly in recent months and has been very volatile largely due to swings in energy prices. From a year prior, producer prices were 5.0 percent higher, a sharp acceleration from a year-over year decline as recently as October. The core index, which excludes prices of food and energy products, rose by a lesser 0.3 percent over the month. From a year prior, it was 1.0 percent higher.

At earlier stages of production, core intermediate goods prices rose 0.5 percent and was 1.1 percent higher than a year prior. At even earlier stages of production, the commodity heavy crude core goods index rose 6.6 percent and was up 35.1 percent from a year prior.

Jan Dec Nov Oct Sep Aug
Headline Index
    M/M % Change 1.4 0.4 1.5 0.4 -0.5 1.5
    Y/Y % Change 5 4.7 2.5 -1.9 -4.8 -4.3
Core Prices
    M/M % Change 0.3 0 0.5 -0.5 -0.1 0.3
    Y/Y % Change 1 0.9 1.1 0.7 1.8 2.3

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