- US: Advance Trade & Inventories (Feb)
- Sweden: Retail Trade, PPI, International Trade (Feb); Iceland: CPI (Mar)
- Turkey: International Reserves (Feb); Mauritius: Wage Rate Index, LFS (Q4); Saudi Arabia: Non-Oil Foreign Trade (Jan); Palestine: BOP (Q4); UAE: Fuel Prices (Apr); Israel: Construction Starts & Completions (Q4); South Africa: Construction Survey (Q1); Tanzania: Trade (Q4)
- Brazil: PPI (Feb)
- more updates...
Economy in Brief
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
by Tom Moeller February 14, 2017
The headline Final Demand Producer Price Index increased 0.6% during January (1.6% y/y) after a 0.2% December gain, revised from 0.3%. The rise was the largest since September 2012 and exceeded expectations for a 0.3% increase in the Action Economics Forecast Survey. The PPI excluding food and energy rose 0.4% (1.2% y/y) following a 0.1% uptick, revised from 0.2%. It was the largest gain since June 2015. A 0.2% rise had been expected.
Prices of trade services jumped 0.9% (0.1% y/y) following no change during December. An updated measure of "core" PPI inflation, final demand prices excluding food, energy, and trade services prices, increased 0.2% (1.6% y/y) following a 0.1% December rise.
Final demand goods prices jumped 1.0% (3.1% y/y), the strongest rise since May 2015. It reflected a 4.7% increase (14.0% y/y) in energy prices which followed 1.8% gain. This rise was accompanied by no change (-2.2 % y/y) in food prices, which followed two months of 0.5% increase.
Nondurable goods prices excluding food & energy strengthened 0.5% (3.3% y/y) following a 0.1% rise. Finished durable goods prices eased 0.1% (+1.1% y/y) following a 0.1% dip. Private capital goods prices gained 0.1% (0.9% y/y) after improving 0.2%.
Final demand energy prices increased 4.7% (14.5% y/y) as gasoline prices strengthened 12.9% (32.5% y/y). Home heating oil prices gained 14.5% (52.6% y/y), and natural gas prices improved 2.7% (10.3% y/y). Food prices remained unchanged (-2.2% y/y). Beef & veal prices declined 7.2% (-8.1% y/y) and fruit & melon prices eased 0.1% (-4.7% y/y). Egg prices fell by one-third (-27.5% y/y), but bakery product prices gained 0.2% (0.5% y/y). Pork prices increased 5.4% (7.7% y/y), and dairy product prices rose 1.0% (5.0% y/y).
Prices of final demand for services gained 0.3% (0.8% y/y) following a 0.1% uptick. Trade services prices increased 0.9% (0.1% y/y) following no change in December. Prices for transportation of private passengers recovered 3.6% (2.3% y/y) after a 1.7% fall, while transportation & warehousing costs increased 0.4% (0.7% y/y).
Final demand construction costs increased 0.3% (1.3% y/y) following a 0.1% dip.
Prices of processed goods for intermediate demand surged 1.1% (3.8% y/y), the strongest rise since February 2013.
The PPI data are contained in Haver's USECON database with further detail in PPI and PPIR. The expectations figures are available in the AS1REPNA database.
Semiannual Monetary Policy Report to the Congress by Fed Chair Janet L. Yellen is available here.
|Producer Price Index (SA, %)||Jan||Dec||Nov||Jan Y/Y||2016||2015||2014|
|Excluding Food & Energy||0.4||0.1||0.5||1.2||1.2||0.8||1.7|
|Excluding Food, Energy & Trade Services||0.2||0.1||0.2||1.6||1.2||0.6||1.2|
|Goods Excluding Food & Energy||0.4||0.3||0.2||2.1||0.8||0.4||1.5|
|Intermediate Demand - Processed Goods||1.1||0.4||0.3||3.8||-3.0||-6.9||0.6|