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 14.4 percent in September, following a sharp 22 percent spike in August. The recent upward pressure on the overall PPI is almost entirely due to energy price spikes (the series is up 91.4 percent on an annualized basis). The only other source of modest upward pressure is from price increases in finished consumer foods—up 11.5 percent in August and 4.9 percent in September. Still, on a year-over-year basis the PPI is up 2.1 percent. Excluding food and energy prices, the “core” PPI was flat in September, and has been much more muted over the past three months—rising just 2.7 percent. Over the past 12 months, the core PPI is up 2.3 percent and has fallen nearly a full percentage point since the start of the year. Further back on the assembly line, pricing pressure was to the upside (though these series are extremely noisy). Core intermediate goods prices rose 7.1 percent in September, while core crude goods prices rose 20.6 percent.