Wholesale prices rose 0.4% in November, more than expected

[BumRushDaShow]

Source: CNBC

Published Thu, Dec 12 2024 8:31 AM EST | Updated 2 Min Ago


A measure of wholesale price rose more than expected in November, adding fuel to the belief that progress in bringing down inflation has slowed, the Bureau of Labor Statistics reported Thursday.

The producer price index, which measures what producers get for their products at the final-demand stage, increased 0.4% for the month, higher than the Dow Jones consensus estimate for 0.2%. On an annual basis, PPI rose 3%, the biggest advance since February 2023.

However, excluding food and energy, core PPI increased 0.2%, meeting the forecast. Also, subtracting trade services left the PPI increase at just 0.1%.

In other economic news Thursday, the Labor Department reported that first-time claims for unemployment insurance totaled a seasonally adjusted 242,000 for the week ending Dec. 7, considerably higher than the 220,000 forecast and up 17,000 from the prior period.

Read more: https://www.cnbc.com/2024/12/12/producer-price-index-november-2024-.html

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Article updated.

Original article -

Published Thu, Dec 12 2024 8:31 AM EST


The producer price index was expected to increase 0.2% in November, according to the Dow Jones consensus estimate.


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[Gruenemann]

1. We're getting a head start...

...on trumpanomics...

[CousinIT]

2. SHitler tariff threats? nt

[Wiz Imp]

3. I'm sure this is fake news. I mean, all the Trump voters assured me that the economy, which was the worst

in the history of the world the day before the election, suddenly transformed to the best in history the day after the election. The Trump Win meant everybody in the world was now happy and prices would go down to zero. So I'm sure that's what's really happening. Not this BS fake news stuff about prices rising at an accelerated rate.

[Javaman]

4. this will be looked upon as the good old days. nt

[nmmi]

5. From the source, and time series. Latest 3 month average (annualized): PPI: 3.3%, Core PPI: 2.1%

Source: https://www.bls.gov/news.release/ppi.nr0.htm

Latest 3 months average, annualized:

# 3.3%   PPI - It is up 2 months in a row from 2.0% in September. But over last 5 months, it's a horizontal trending zig zaggy line, and is about where it was in June.

# 2.1%   Core PPI (PPI less food, energy, and trade services). Declining steadily since February

Time Series with data and graphs:
# PPI http://data.bls.gov/timeseries/WPSFD4
# Core PPI#1 (PPI less food & energy) http://data.bls.gov/timeseries/WPSFD49104
# Core PPI#2 (PPI less food, energy, & trade services) http://data.bls.gov/timeseries/WPSFD49116

The BLS puts more emphasis on what I label Core PPI#2 than on Core PPI#1, and so do I. Trade services is highly volatile from month to month.