Keeping you up to date on the latest data releases.
- Producer Price Index
The Producer Price Index (PPI) for finished goods rose at an annualized rate of 2.5 percent in May, compared to an 11.5 percent growth rate over the previous six months and a 12-month growth rate of 7.3 percent. Producer prices for energy goods rose 19.8 percent during the month and accounted for most of the headline increase, but that was the smallest monthly increase in energy goods over the past 8 months. Interestingly, producer prices for finished consumer foods fell 16 percent in May and are up 4.0 percent over the past year. Excluding volatile food and energy items, producer prices increased 2.1 percent in May, matching its 12-month growth rate. At earlier stages of production, pricing pressure was mixed, as core intermediate goods rose 11.2 percent and core crude goods slipped down 10.2 percent in May.