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August wholesale inflation rises 0.7%, hotter than expected, but core prices in check

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  • The producer price index increased a seasonally adjusted 0.7% in August, higher than the 0.4% estimate and the biggest monthly gain since June 2022.
  • However, excluding food and energy, core PPI rose 0.2%, in line with the estimate.
  • Elsewhere, retail sales climbed a higher-than-expected 0.6% in August, well above the 0.1% estimate.
  • Initial jobless claims nudged up to 220,000 for the week ended Sept. 9, below the 225,000 estimate.

Inflation at the wholesale level rose more than expected in August, countering recent data showing that price increases have tempered lately.

The producer price index, a measure of what producers get for their goods and services, increased a seasonally adjusted 0.7% in August and 1.6% on a year-over-year basis, the U.S. Department of Labor reported . That monthly gain was above the Dow Jones estimate for a 0.4% rise and was the biggest single-month increase since June 2022.

However, excluding food and energy, the PPI climbed 0.2%, in line with the estimate. On a 12-month basis, core PPI increased 2.1%, its lowest annual level since January 2021. Excluding food, energy and trade services, the PPI increased 0.3%.

The data comes a day after the more closely followed consumer price index showed a rise of 0.6% on a monthly basis and 3.7% from a year ago. Excluding food and energy, core CPI increased 0.3% and 4.3% respectively.

As with the CPI, the upward pressure on the PPI came largely from a big jump in energy prices. The PPI energy index rose 10.5% on the month, spurred by a 20% surge in gasoline.

Final demand goods prices rose 2% in August, the biggest one-month gain since June 2022. Services prices increased 0.2%.

In other economic news Thursday, the Commerce Department estimated that retail sales increased a higher-than-expected 0.6% in August, well above the Dow Jones estimate for a 0.1% rise. Excluding autos, sales also increased 0.6% against the 0.4% estimate.

Those numbers are not adjusted for inflation, indicating that consumers continue to hold up despite rising prices and increasing levels of credit card debt. Compared to the monthly rise in CPI, retail sales in real terms were flat on the month. Sales were up 2.5% from a year ago, which was below the 3.7% annual CPI inflation rate.

The retail report also reflected higher energy prices, as gas station sales rose 5.2%.

The so-called control group of retail sales, which excludes things such as gas stations, restaurants, auto sales and building material and garden stores, and which feeds into gross domestic product calculations, rose just 0.1% for August.

Markets took both reports in stride , with futures tied to the Dow Jones Industrial Average up about 80 points heading into the open. Treasury yields were slightly higher across the board.

The PPI focuses on domestic prices and generally represents the cost of producing goods and services. By contrast, the CPI gauges what consumers pay in the marketplace and includes import prices.

Both gauges are showing that while inflation remains a problem for U.S. households, the rate of increase generally had appeared to be slowing in recent months. That's been an important consideration for the Federal Reserve as it plots its future course after a series of 11 interest rate increases totaling 5.25 percentage points.

Market pricing indicates a near certainty that the Fed will not raise benchmark rates next week. Though central bank officials in June indicated they expect one more rate hike before the end of the year, market futures on Thursday morning pointed to a 42% chance of a move in November, according to CME Group data.

A third economic report Thursday showed that initial jobless claims nudged higher to 220,000 for the week ended Sept. 9, according to the Labor Department . However, that was slightly below the 225,000 Dow Jones estimate.

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Unsnarled Supply Chains Appear to Help Ease Goods   Inflation

The global pandemic and Russia’s invasion of Ukraine contributed to a protracted period of supply chain disruptions that coincided with high price pressures concentrated in goods sectors.  As global supply chains have gradually recovered from pandemic-era and commodity market disruptions, there has been a clear cooling in the inflationary pressures on core goods, even as we still have further work to do on overall inflation. This blog post further explores these recent developments.

The onset of the pandemic in early 2020 caused a large, negative shock to both supply and demand. In the scramble to socially distance, producers slowed production while at the same time consumers slowed spending, especially for services, giving birth to the deep, pandemic-induced recession. Thanks in part to savings from this foregone spending as well as strong fiscal support , aggregate demand quickly recovered, but the supply shock persisted. Global supply chains, which rely on the smooth functioning of suppliers, producers, and transporters across many countries, were particularly affected by rolling international lockdowns and other COVID-related issues.

Figure 1 plots the share of respondents in the Institute of Supply Management Manufacturing Survey who report slower delivery times compared to the previous month (left axis) and the Federal Reserve Bank of New York’s Global Supply Chain Pressure Index (right axis), a composite series that incorporates the ISM survey and the HARPEX index of shipping costs. The ISM Survey series reached an all-time high in May 2021, and remained above its prepandemic average from January 2020 to September 2022, a record duration. In a strong sign of supply chain normalization, the ISM Survey measure has stayed below its prepandemic average since December 2022.

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Figure 2 plots the 12-month moving average of ISM survey respondents who report slower delivery times against the 12-month change in the PCE Price Index for core goods. The two series are usually weakly correlated, but their correlation jumps to 0.9 when the sample is restricted to the last five years and the ISM measure is lagged by six months. The year-over-year Personal Consumption Expenditures (PCE) Price Indexes for food, energy, and goods overall have been declining since their peak in the summer of 2022.

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Supply chain measures tend to be even more correlated with the price indices that capture input prices, such as the Producer Price Index (PPI) for intermediate core goods. The most recent PPI report shows that prices in many categories are moderating, including several months of low or negative price growth in various goods price indices such as food and transportation. Although one month of data can be noisy and overall inflation remains elevated relative to prepandemic levels, observed declines across many different goods inflation measures are a positive development for consumers. Moreover, while correlation is not causation, the high correlation between PPI and supply chain pressures suggests that the easing we are seeing in supply chains may continue to show up in measures of inflation.

Because supply chain measures reflect the flow of goods, they are less correlated with the services component of inflation. For example, inflation in PCE non-housing core services has remained elevated in recent months and is unlikely to be resolved by lessening supply chain frictions alone. But as supply chains have normalized, goods inflation has also trended downward, helping to provide some much-needed breathing room for American consumers.

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US inflation hotter than expected in January at 3.1%

While inflation has fallen sharply since peaking above 9% in June 2022, many are still feeling the pinch of high prices

Inflation was hotter than expected across the US last month as it continues to fall back from its highest levels in a generation.

Price growth dropped to an annual rate of 3.1% in January, according to official data; above economists’ expectations of 2.9%. In December, the consumer price index stood at 3.4%.

The latest official data sparked a sell-off on Wall Street, with the S&P 500 falling 1.3% and the Dow Jones industrial average dropping 1.1%.

Stock markets have scaled record highs in recent weeks as investors grew more confident about the easing of inflation and some of the US’s largest companies released robust results.

While inflation has fallen sharply since peaking above 9% in June 2022, many Americans are still feeling the pinch. Joe Biden, who is standing for re-election in November, must persuade them that the economy is working for them.

On a monthly basis, the consumer price index rose by 0.3% in January, up from 0.2% the previous month and also higher than the 0.2% expected.

The so-called “core” index, which strips out volatile food and energy prices, is closely watched as it tends to provide a better indication of inflation’s trajectory. It also increased on the month, from 0.3% to 0.4%.

The US Bureau of Labor Statistics, which releases the data each month, said the index was driven higher in January by the rising cost of shelter, including rent; motor vehicle insurance; and medical care.

The US economy has remained robust in recent years, adding millions of jobs and defying predictions of recession even as the Federal Reserve has embarked upon an aggressive campaign to take on inflation. Employers added 353,000 jobs last month alone.

Many Americans have not been feeling positive about the economy, as they grapple with their own financial realities. A closely watched survey by the University of Michigan indicated a rallying in consumer confidence last month, however, with sentiment jumping to its highest level since July 2021.

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Now that annual inflation is easing back towards 2%, Fed policymakers are preparing to cut interest rates for the first time in four years. Wall Street had been betting that the central bank would start doing so as soon as May, after the Fed chairman, Jerome Powell, signaled that a cut was unlikely next month.

Paul Ashworth, chief North America economist at Capital Economics , said January’s unexpectedly strong reading will reinforce the view in some quarters that the “last mile is the hardest” as inflation comes back down to earth.

Prices in key categories like clothing and medical care commodities did fall last month, however. “There is still plenty of disinflation in the economy,” Ashworth noted.

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China Llanos

Digital Content Writer & Editor, J.P. Morgan Wealth Management

The January 2024 Consumer Price Index (CPI) report released on February 13 showed that the significant economic recalibration in the U.S. following the pandemic hasn’t yet run its course. 1 Following a peak inflation rate of 9.1% in the latter half of 2022, the subsequent decline in both headline and core inflation has been a source of hope for economists and market participants alike. After the most aggressive rate-hiking regime in modern times, which tanked stocks and bonds in 2022, encouraging reductions in prices from essentials like gas and food to core items like used cars and trucks made markets hopeful that the Fed was done hiking rates and was even ready to cut rates several times in 2024. The current report does not support the narrative that inflation will moderate on its own to the Fed’s 2% target, however.

The CPI for All Urban Consumers (CPI-U) marked a 0.3% increase in January on a seasonally adjusted basis – a slight acceleration from the 0.2% rise observed in December. The incremental rise is unwelcome news for policymakers and markets, as it indicates the Fed may have to keep money more expensive for longer. Notably, the shelter index surged by 0.6% in January, significantly contributing to over two-thirds of the month's total increase in all items.

The food index saw a 0.4% increase in January. Breaking this down, the food at home index rose by 0.4%, and the index for food away from home increased by 0.5%. The costs of food at grocery stores have been a particular problem for consumer budgets, which have not moderated to the same extent as other consumer goods. On a more positive note, the energy index experienced a decrease of 0.9% during the month, largely attributed to a reduction in the gasoline index, providing a counterbalance to the increases seen in other sectors.

Additionally, the index for all items less food and energy, often referred to as the core CPI, experienced a 0.4% rise in January. Looking at the year-over-year data, the all-items index increased by 3.1% for the 12 months ending in January – a slight deceleration from the 3.4% increase seen for the year ending in December. Market participants had been optimistic about a continued gradual decrease in inflation, aiming for a headline rate below 3%. However, the core CPI accelerated 3.9% year-over-year, exceeding expectations that had anticipated a 3.7% annual increase.

Inflation persists for consumers

The continued aftershocks of the pandemic continue to shape the inflation landscape, particularly in the housing sector. Part of the issue for the Fed and economists is the way housing costs are measured, which creates a lag between actual increases or decreases in housing paid by renters and owners and when those price changes appear in the official inflation print. Sarah Stillpass, Global Investment Strategist for J.P. Morgan’s Global Investment Strategy team, noted that, “While eyes were particularly focused on the spike in rents, we believe this to be a one-off occurrence as leading indicators for rent continue to show deceleration.”

Stubbornly high food cost inflation, especially for at-home consumption, also continues to challenge policymakers. Despite declines in other areas, food inflation remains significantly above the Fed's 2% target, illustrating the complexities of pandemic-related inflationary pressures. The unsnarling of supply chains that have brought prices down in other areas have not had as great an effect on food prices, which continue to be high due to a mix of factors beyond policymakers’ control, including droughts and the ability of grocery stores to increase prices without significantly reducing demand. 2

Market reaction

Market reactions to the January inflation report and subsequent Fed member remarks were indicative of a shift in expectations. Stock markets in the U.S. opened significantly down and rates on 10-year Treasury bonds spiked. Bond traders had signaled hope for up to seven rate cuts in 2024, as seen by the CME FedWatch tool at the end of 2023. 3 That expectation has been tempered over the last two months. With a neutral inflation print in January and cautious optimism from the Fed regarding economic strength, expectations for rate cuts have been adjusted to be between three and five in 2024, contingent on core inflation trends. Currently, the likelihood of a March rate cut is only 6%. Stillpass holds that, “The January CPI numbers decrease the likeliness of a Fed rate cut at its next two meetings. Our base case for a June cut, however, remains and the market is now also pricing for that move.”

The bottom line

The persistent inflation in housing, services and food underscores the ongoing challenges facing the economy in achieving the Federal Reserve's inflation targets. As a result, the Federal Reserve's monetary policy path appears to be one of caution, with future adjustments heavily dependent on a lagged drop in housing costs over the course of this year. While the peak inflationary pressures of 2022 have subsided, the journey towards economic stabilization and price stability remains complex and contingent on careful policy navigation.

U.S. Bureau of Labor Statistics, “Consumer Price Index Summary.” (February, 2024).

The Washington Post, “Inflation has fallen. Why are groceries still so expensive?” (February, 2024).

CME Group, “CME FedWatch Tool.” (December, February, 2024).

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Nor’easter Expected to Bring New York City’s Heaviest Snow in Over 2 Years

A storm starting Monday night will bring heavy snow to parts of New Jersey, New York and Connecticut, forecasters said.

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By Rebecca Carballo and Judson Jones

Judson Jones is a meteorologist and reporter for The Times.

Go here for updates on Tuesday’s storm.

Heavy snowfall will spread over parts of the Northeast starting late Monday and into Tuesday, with some areas expected to get up to two inches of snow an hour, National Weather Service forecasters said.

This is not a long lasting storm; the snow will come down quickly and in some cases pile up to a foot or more.

Even Central Park, which hasn’t been coated in a half a foot of snow or more since Jan. 29, 2022, could see the return of sledding, snowballs and snowmen by Tuesday afternoon.

Here are key things to know about the storm.

Snow is looking more likely for New York City, with the possibility of over six inches. It will start as rain in the city and will most likely transition to snow around the morning commute Tuesday.

There remains some uncertainty around when, exactly, the precipitation will change from rain to snow in the New York metro area, which would affect eventual snow totals.

The band of heaviest snow is more likely to fall over the coast of southern New England, National Weather Service forecasters in Boston said on Monday afternoon. Cities like Boston are less likely to receive a foot of snow as originally forecast.

Schools are announcing closures ahead of Tuesday’s storm. Boston Public Schools will be closed, according to the district’s website , and New York City Public Schools also announced that classes would be held remotely .

Snow is likely from the Mid-Atlantic through New England.

Early Monday, the Weather Service said its forecasters were confident that Connecticut and the Lower Hudson Valley would see at least six inches of snow.

The heaviest snow will fall in northern Pennsylvania and southern New York before tracking into southern New England on Tuesday, the Weather Service said.

Late Monday, the forecast was changing, with a greater likelihood that the heaviest snow could fall farther south across New York City and Long Island. Areas north and west of New York City could receive less snow than originally anticipated. However, exactly where the heaviest band might fall was still not certain.

Winter storm warnings were put into effect on Monday afternoon for New York City and Long Island, where forecasters expect at least six inches of snow.

How Much Snow To Expect

Look up how much snow you might get, how much snow to expect.

At a news conference on Monday afternoon, Mayor Eric Adams of New York City said the heavy precipitation was expected across all five boroughs starting late Monday night, leading to slippery roads and low visibility during the morning commute.

“We have not had any significant snowfall for quite some time,” Mr. Adams said. “The time has come. Mother Nature does what she wants to do.”

Strong winds and coastal flooding will also accompany the storm. Coastal flooding is anticipated for the Jersey Shore and Long Island, according to the Weather Service .

A winter storm warning was posted from Pennsylvania to coastal Massachusetts, where winds could gust up to 35 to 40 miles per hour and snow accumulation could reach up to 10 maybe even 13 inches. The storm warning is in effect until 6 p.m. on Tuesday.

Interior sections of northeastern New Jersey, the lower Hudson Valley and southern Connecticut can expect heavy wet snow with accumulations of up to 12 inches, with locally higher amounts, especially north of I-84, late on Monday night, the Weather Service said .

Forecasters warned that powerful winds and heavy snow could damage trees and power lines.

Possibility of severe winter weather Tuesday

Five to eight inches of snow were expected in the New York City metro area and Long Island.

The New York State Department of Transportation said it was monitoring weather conditions and was prepared to respond with an array of heavy equipment, including 1,544 large plow trucks and 36 snow blowers.

However, other areas had slightly different preparations in mind.

Dean Ryder, owner of Thunder Ridge Ski Area in Putnam County in New York, said he was getting ready for a potential influx of customers. He said the ski area could double its attendance after a big snowstorm.

Thunder Ridge hosts classes that regularly attracts skiers, but those are “nothing compared to a snowstorm,” when it comes to drumming up business, he said. “It’s just something about seeing it outside your window.”

Claire Fahy contributed reporting.

Rebecca Carballo is a reporter based in New York. More about Rebecca Carballo

Judson Jones is a meteorologist and reporter for The Times who forecasts and covers extreme weather. More about Judson Jones

Explore Our Weather Coverage

Preparing Your House for the Cold:  Here are steps to take  to prepare for bitter cold, strong winds and other severe winter conditions at home.

Wind Chill Index: Even if the ambient temperature stays the same, you might feel colder when you are hit by a gust of wind. This is how meteorologists measure the feeling of cold .

On the Road:  Safety experts shared some advice  on how snow-stranded drivers caught in a snowstorm can keep warm and collected. Their top tip? Be prepared.

Is It Safe to Go Outside?:  Heat, flooding and wildfire smoke have made for treacherous conditions. Use this guide to determine when you should stay home .

Climate Change: What’s causing global warming? How can we fix it? Our F.A.Q. tackles your climate questions big and small .

Evacuating Pets: When disaster strikes, household pets’ lives are among the most vulnerable. You can avoid the worst by planning ahead .

Extreme Weather Maps: Track the possibility of extreme weather in the places that are important to you .

'How in the hell dare he': Biden strikes defiant tone on special counsel report

WASHINGTON — President Joe Biden forcefully defended himself against charges that he suffers from memory loss, delivering remarks Thursday night at the White House in response to special counsel Robert Hur ’ s report on his handling of classified information.

Hur’s report included characterizations of the president’s mental fitness, saying his memory was “significantly limited, both during his recorded interviews with the ghostwriter in 2017, and in his interview with our office in 2023.”

The report also said Biden did not remember, even within several years, when his son Beau died.

“How in the hell dare he raise that?” Biden said, adding that when he was asked about Beau’s death during the probe, he thought to himself that it “wasn’t any of their damn business.”

Biden’s son Beau died in 2015 from brain cancer.

“I don’t need anyone to remind me when he passed away,” Biden said Thursday night, reiterating that he wears his late son’s rosary beads and honors him with a service every Memorial Day. The president often talks about Beau in speeches, especially in discussing loss and grief.

Biden also said, “My memory’s fine,” in response to a reporter’s question.

Later in his remarks, Biden mistakenly referred to Egyptian President Abdel Fattah el-Sissi as the president of Mexico. The flub took place when Biden was answering a question about the Israel-Hamas war, and it was the third time this week he has mixed up heads of state .

Biden appeared hours after Hur released his report into his handling of classified documents. Hur declined to prosecute the president, but he found that he “willfully retained and disclosed classified materials after his vice presidency when he was a private citizen.”

White House officials concluded Thursday evening that Biden needed to address the special counsel’s most damning allegations head-on and express his anger about the report directly, according to two people familiar with the decision.

Senior Biden aides believed it was imperative for the president to call out what they view as purely political criticism from Hur because, they argue, the special counsel was concerned about potential blowback from conservatives for not charging Biden with a crime, one of the people said.

The White House also felt, as evidenced by the president’s fiery remarks about knowing when his late son Beau died, that the attacks on his memory were “way out of line” and “gratuitous,” the source said.

Biden on Thursday night reiterated the distinction the special counsel ’ s report made between his handling of classified documents and former President Donald Trump’s. Earlier in the day, he briefly addressed the report in a pre-announced speech, saying he was “especially pleased” that it “made clear the stark differences between this case and Donald Trump.”

In response to a reporter’s question Thursday night about what he would have done differently, Biden talked about the importance of overseeing the transfer of materials.

“I should have done that,” he said.

“I didn’t know how half the boxes got in my garage until I found out staff gathered them up and put them together and took them to the garage in my home,” he added.

But Biden pushed back against the report’s language that he “willfully retained” classified documents, saying such assertions were “not only misleading; they’re just plain wrong.”

Biden also denied sharing classified information, including with his ghostwriter.

“I guarantee you,” he said.

The pushback came in response to part of Hur’s report that details a recorded 2017 conversation Biden had with his ghostwriter, in which he said he “just found all this classified stuff downstairs,” according to the report. He told the ghostwriter in a recording, “Some of this may be classified, so be careful.”

The report also threw doubt on whether a jury would convict Biden had Hur decided to bring charges.

“We have also considered that, at trial, Mr. Biden would likely present himself to a jury, as he did during our interview of him, as a sympathetic, well-meaning, elderly man with a poor memory. Based on our direct interactions with and observations of him, he is someone for whom many jurors will want to identify reasonable doubt,” the report said. “It would be difficult to convince a jury that they should convict him — by then a former president well into his eighties — of a serious felony that requires a mental state of willfulness.”

most recent ppi report

Megan Lebowitz is a politics reporter for NBC News.

most recent ppi report

Monica Alba is a White House correspondent for NBC News.

most recent ppi report

Carol E. Lee is the Washington managing editor.

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  1. Producer Price Index Home : U.S. Bureau of Labor Statistics

    News Release PPI for final demand falls 0.1% in December; goods decrease 0.4%, services unchanged 01/12/2024 The Producer Price Index for final demand fell 0.1 percent in December. Prices for final demand goods decreased 0.4 percent, while the index for final demand services remained unchanged. Prices for final demand rose 1.0 percent in 2023.

  2. PPI Latest Numbers : U.S. Bureau of Labor Statistics

    Publications Overview News Releases Detailed Reports Videos Price Adjustment Guide for Contracts Additional Publications Subscriptions. ... PPI Latest Numbers. FINAL DEMAND: SA-0.1%(p) in Dec 2023. NSA-0.5%(p) in Dec 2023. NSA +1.0%(p) since Dec 2022. FINAL DEMAND GOODS: Total-0.4%(p) in Dec 2023.

  3. Latest PPI News Releases : U.S. Bureau of Labor Statistics

    01/12/2024 The Producer Price Index for final demand fell 0.1 percent in December. Prices for final demand goods decreased 0.4 percent, while the index for final demand services remained unchanged. Prices for final demand rose 1.0 percent in 2023. HTML | PDF | RSS | Charts Report on Quality Changes for 2024 Model Vehicles November 15, 2023

  4. United States Producer Price Index (PPI)

    For the U.S., the Producer Price Index (PPI) is a family of indexes that measures the average change over time in selling prices received by domestic producers of goods and services. PPIs measure price change from the perspective of the seller.

  5. US Producer Price Index

    Historical Data View and export this data back to 2009. Upgrade now. Basic Info Stats Related Indicators US Economy In depth view into US Producer Price Index including historical data from 2009 to 2023, charts and stats.

  6. January PPI Report Shows Producer Prices Rose, Pointing to Persistent

    The PPI increased 0.7% in January from the prior month, compared with a revised 0.2% drop in December, and significantly faster than the 0.2% average monthly rise in the year before the pandemic....

  7. PDF November 2021 PPI Detailed Report

    Chart 1. One-month percent changes in selected PPI final demand price indexes, seasonally adjusted Chart 2. Twelve-month percent changes in selected PPI final demand price indexes, not seasonally adjusted -0.5 0.0 0.5 1.0 1.5 2.0 Nov'20 Dec Jan Feb Mar Apr May June July Aug Sep Oct Nov'21 Percent change Final demand Final demand goods Final ...

  8. This key inflation measure shows prices rose faster than expected ...

    Core PPI, which excludes food and energy from overall producer prices, registered a 0.3% month-over-month increase and a 7.2% rise over the course of the last 12 months. That was roughly in line ...

  9. Economic Release Calendar

    Releases 1 - 26 of 26 All times are US Central Time. Note that release dates are published by data sources and do not necessarily represent when data will be available on this website. 26 economic release dates for release: Producer Price Index. FRED: Download, graph, and track economic data.

  10. This key US inflation gauge fell last month by the most since 2020

    Economists expected PPI to inch up 0.1% from September and rise 1.9% from last year, according to Refinitiv estimates. When stripping out the volatile food and energy categories, core PPI was...

  11. US producer prices revised lower in December

    The producer price index for final demand dropped 0.2% in December instead of dipping 0.1% as previously reported, annual revisions of the PPI data published by the Labor Department's Bureau of ...

  12. Key inflation measure shows wholesale prices fell last month

    Producer price increases slowed to an annual pace of 4.6% last month, significantly lower than the downwardly revised 5.7% in January, the Labor Department reported Wednesday. February prices fell ...

  13. What is the PPI?

    Updated Jan. 12, 2024, to add the most recent PPI figures. The producer price index, or PPI, measures changes in prices paid to producers and manufacturers for goods and services. Current...

  14. What Is PPI Inflation? How Does It Work?

    The most recent PPI data was released on July 13, 2023, covering the month of June. The annual PPI inflation figure was +0.1% in June, the smallest rise since August 2020. That means that...

  15. PPI inflation report August 2023:

    Key Points. The producer price index increased a seasonally adjusted 0.7% in August, higher than the 0.4% estimate and the biggest monthly gain since June 2022. However, excluding food and energy ...

  16. April Inflation Report Recap: Prices Cool Slightly, Relief For ...

    The producer prices index (PPI) report figures released today showed an increase of 2.3% year-on-year, a 0.2% increase which comes in below the 0.3% predicted figure. It's the 10th consecutive ...

  17. Schedule of Releases for the Producer Price Index

    Series Report; Top Picks, One Screen, Multi-Screen, and Maps; Data Finder; Public Data API; ... Schedule of Releases for the Producer Price Index. Reference Month Release Date Release Time; October 2023: Nov. 15, 2023: 08:30 AM: November 2023: ... If you use a recent version of an electronic calendar, you may be able to subscribe to the BLS ...

  18. The Latest PPI Report Release Has Happened, Are We Going To ...

    The latest Producer Price Index (PPI) report has been released, with the wholesale measure of inflation coming in slightly above expectations The PPI is widely considered to be the Fed's...

  19. A Crucial Inflation Report Card

    A Crucial Inflation Report Card. Investors and the White House will pore over the latest Consumer Price Index report for clues on prices — and potential interest rate cuts. By Andrew Ross Sorkin ...

  20. Unsnarled Supply Chains Appear to Help Ease Goods Inflation

    The most recent PPI report shows that prices in many categories are moderating, including several months of low or negative price growth in various goods price indices such as food and transportation.

  21. US inflation hotter than expected in January at 3.1%

    The latest official data sparked a sell-off on Wall Street, with the S&P 500 falling 1.3% and the Dow Jones industrial average dropping 1.1%. Stock markets have scaled record highs in recent weeks ...

  22. US Core CPI Rises Most in Eight Months as Inflation Persists

    US consumer prices rose by more than forecast in January, highlighting the bumpy road to disinflation. The so-called core consumer price index, which excludes food and energy costs, increased 0.4% ...

  23. PPI report: Another key inflation gauge fell sharply in May

    The latest PPI lands just hours before the Federal Reserve is scheduled to announce its latest monetary policy action. Market participants anticipate that Fed officials will opt for a pause to...

  24. January Inflation Report Prices Are More Stubborn Than Expected

    Egg prices climbed 3.4 percent in January from the month before, a slower rate than 3.7 percent in December but up from 2.6 percent in November. A resurgence of avian flu has contributed to the ...

  25. January 2024 CPI report: Inflation ticks up in unwelcome surprise

    The January 2024 Consumer Price Index (CPI) report released on February 13 showed that the significant economic recalibration in the U.S. following the pandemic hasn't yet run its course. 1 Following a peak inflation rate of 9.1% in the latter half of 2022, the subsequent decline in both headline and core inflation has been a source of hope for economists and market participants alike.

  26. PPI for final demand, 12-month percent change, not seasonally adjusted

    Percent PPI for final demand, 12-month percent change, not seasonally adjusted Total Total less foods, energy, and trade services Goods Foods Energy Goods less foods and energy Services Trade Transportation and warehousing Services less trade, transportation, and warehousing -4.0 -2.0 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 Hover over chart to view d...

  27. Microsoft says it caught hackers from China, Russia and Iran using its

    State-backed hackers from Russia, China, and Iran have been using tools from Microsoft-backed OpenAI to hone their skills and trick their targets, according to a report published on Wednesday.

  28. Nor'easter Expected to Bring New York City's Heaviest Snow in Over 2

    A winter storm warning was posted from Pennsylvania to coastal Massachusetts, where winds could gust up to 35 to 40 miles per hour and snow accumulation could reach up to 10 maybe even 13 inches ...

  29. Biden strikes defiant tone on special counsel report in national address

    Biden on Thursday night reiterated the distinction the special counsel ' s report made between his handling of classified documents and former President Donald Trump's. Earlier in the day, he ...

  30. What To Expect From The October 2023 CPI Report

    Inflation Nowcasts For October 2023. Nowcasts from the Cleveland Fed, which use current prices for items such as energy to estimate monthly inflation rates, currently predict that CPI will rise at ...