Keeping you up to date on the latest data releases.
- Producer Price Index
The Producer Price Index (PPI) for finished goods rebounded from an annualized decrease of 3.7 percent in October, rising 3.2 percent in November. The rebound was due in large part to a 12.9 percent spike up in finished consumer foods. Energy prices were relatively flat in November, rising a muted 1.2 percent, compared to their year-over-year growth rate of 12.2 percent. The 12-month growth rate in the overall PPI continued to edge away from its recent high of 7.1 percent in July, and, as of November, stands at 5.9 percent (which is still elevated relative to its 20-year trend growth rate of 2.3 percent). Excluding food and energy prices, the “core” PPI rose 1.3 percent in November, following a flat reading in October. Over the past three months, the annualized growth rate in the core PPI is just 1.3 percent, compared to its longer-term (12-month) growth rate of 2.9 percent. Further back on the production line, pricing pressure continued to ebb, as core intermediate goods prices fell 4.9 percent and core crude goods—which are up 11.8 percent over the past year—followed up October’s 40.8 percent plunge by diving down 26.3 percent in November.