Keeping you up to date on the latest data releases.
- Producer Price Index
The Producer Price Index (PPI) for finished goods surged in February, rising at an annualized rate of 21.2 percent largely as food and energy prices spiked (up 58.4 percent and 47.6 percent, respectively). On a year-over-year basis, the headline PPI is up 5.6 percent, its highest level since last March, though well below the near 10 percent growth rate seen during the mid-2008 energy price shock. Excluding volatile food and energy items, producer prices rose a modest 2.8 percent in February, compared to a 6.4 percent jump up in January. The series is up 1.9 percent over the past 12 months, below its longer-run (30-year) growth rate of 2.2 percent. Further back on the line of production, pricing pressure remains on the upside as core intermediate goods rose 14.4 percent and core crude goods spiked up 31.3 percent, leading to year-over-year growth rates for the two series of 5.4 percent and 28.3 percent, respectively.