U.S. Producer Price Index
Chart of the Week for November 17, 2017 - November 23, 2017
The U.S. Producer Price Index (PPI) is a measure of selling prices received by domestic producers published monthly by the Bureau of Labor Statistics. PPI follows price changes for nearly every goods-producing industry in the country as well as service and construction firms. Economists and investors follow changes in PPI closely as it is an important indicator of wholesale and commodity price pressure, and because it is usually an indicator of possible changes in the Consumer Price Index.
As noted in chart above, the monthly change in PPI has ranged from a high of 0.6% change in January to four months of no change in February, March, May, and June. October's PPI increase of 0.4% was above the consensus expectation of a 0.1% increase and included a 0.5% increase in food prices. On a year-over-year basis PPI increased 2.7%, which was higher than September 2017's 2.5% year-over-year increase. Economists note that the Federal Reserve will be paying close attention to the PPI data as well as other inflation data when considering whether to raise interest rates at their December 2017 meeting.
Posted by: sarah_oz@yahoo.com
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