Keeping you up to date on the latest data releases.
- Producer Price Index
Producer prices, as measured by the Producer Price Index (PPI) jumped up at an annualized rate of 21.9 percent in August, following a modest 3.2 percent increase in July. August’s spike was driven largely by a significant jump in finished energy goods prices (up 110 percent at an annualized rate). A less dramatic, though still sizeable increase in prices for finished consumer foods (up 10.8 percent) also contributed to overall jump in producer prices in August. Excluding food and energy components, prices elsewhere in the index rose much more modestly in August, increasing 2.7 percent compared to a 5.4 percent increase in July. On a year-over-year basis, the PPI excluding food and energy is up 2.6 percent, a little over a half a percentage point above the growth rate in the overall index. Pricing pressure was mixed further back on the line of production, as core intermediate goods prices slipped down 2.5 percent and core crude goods prices rose 29.8 percent in August.