Wednesday, February 19, 2014

Producer Prices Rose 0.2% in January

Producer prices increased for the second consecutive month, rising 0.2% over the previous month’s levels. Producer prices are now 1.2% above year-ago levels, up from the 1.1% reported last month.

Food prices rose 0.4%, which largely contributed to a gain in the headline index. The prices on finished energy goods rose 0.3%, a vast difference from the 1.5% jump the month prior. Core goods prices rose 0.4%, the largest gain in over a year.

The prices of crude goods increased 0.9% in January, however prices are 0.9% below year ago levels. Spikes in household electricity and utility usage during an unusually cold December and January should subside in the following months and places downward pressure on those prices.

Read the BLS report.

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