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doctorpot1 shared · Jan 18, 2023 07:44

After an expected CPI number, we have good a PPI number. -0.5% instead of -0.1% that was expected

doctorpot1: US CPI at 6.5% same as the 6.5% that was expected. CPI for all items declines 0.1% in December as gasoline and oil price decreases significantly
The Producer Price Index for final demand declined 0.5% in December, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices advanced 0.2% in November and 0.4% in October.
On an unadjusted basis, the index for final demand increased 6.2% in 2022 after rising 10.0% in 2021.
In December, the decrease in the final demand index can be attributed to a 1.6% decline in prices for final demand goods. In contrast, the index for final demand services rose 0.1%. Prices for final demand less foods, energy, and trade services edged up 0.1% in December after increasing 0.3% in November.
The index for final demand less foods, energy, and trade services advanced 4.6% in 2022 following a 7.0% rise in 2021.
Final Demand
Final demand goods: Prices for final demand goods moved down 1.6% in December, the largest decrease since falling 1.8% in July. Leading the December decline, the index for final demand energy dropped 7.9%. Prices for final demand foods decreased 1.2%. Conversely, the index for final demand goods less foods and energy advanced 0.2%.
Product detail: Nearly half of the December decrease in the index for final demand goods can be traced to a 13.4% decline in prices for gasoline. The indexes for diesel fuel; jet fuel; fresh and dry vegetables; canned, cooked, smoked, or prepared poultry; and basic organic chemicals also fell. In contrast, prices for carbon steel scrap increased 8.3%. The indexes for chicken eggs and for electric power also moved higher.
Final demand services: Prices for final demand services edged up 0.1% in December after rising 0.2% in November. The December increase can be traced to margins for final demand trade services, which advanced 0.3%. (Trade indexes measure changes in margins received by wholesalers and retailers.) Conversely, the index for final demand transportation and warehousing services fell 0.2%, while prices for final demand services less trade, transportation, and warehousing were unchanged.
Product detail: A major factor in the December increase in prices for final demand services was a 17.6% jump in margins for fuels and lubricants retailing. The indexes for deposit services (partial), airline passenger services, inpatient care, and professional and commercial equipment wholesaling also moved higher. In contrast, prices for truck transportation of freight decreased 1.7%. The indexes for residential real estate loans (partial), machinery and vehicle wholesaling, and guestroom rental also fell.
After an expected CPI number, we have good a PPI number. -0.5% instead of -0.1% that was expected
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doctorpot1
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crawled out of poverty, working towards FIRE!! (financial independence, retired early)
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