PPI in U.S. Declines In December; Core Rate Hotter

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Economic Update: Producer Price Index

The Labor Department reported the Producer Price Index (an indication of inflation at the wholesale level) for December fell by -0.1%, which was below the consensus estimate for a rise of +0.1%.

Prior month’s readings for comparison purposes:

• November: +0.3
  
• October: -0.3%
  
• September: +0.8%
  
• August: 0.0%
  
• July: +0.2%
  
• June: -0.4%
  
• May: +0.2%
  
• April: +0.8%
  
• March: +0.7%
  
• February: +1.6%
  
• January: +0.8%

When you strip out food and energy, the so-called Core PPI came in at +0.3%, which was hotter than the consensus for +0.1% .

 

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