June wholesale prices rise less than expected in another encouraging inflation report
Source: CNBC
The producer price index for June had a smaller than expected increase, the Labor Department reported Thursday, in the latest sign that inflation is calming in the United States.
The PPI for final demand rose 0.1%. Economists surveyed by Dow Jones were expecting a rise of 0.2%. PPI rose 0.1% when excluding food, energy and trade services, which was in line with expectations.
The producer report comes a day after the consumer price index showed a smaller-than-expected increase. The CPI rose just 3% year over year, its lowest since March 2021, bolstering hopes for investors that the Federal Reserve is near the end of its rate-hiking cycle.
The wholesale producer numbers have declined faster than the consumer inflation data. In May, the headline PPI number actually declined 0.4%, and was unchanged when excluding food, energy and trade services.
Read more: https://www.cnbc.com/2023/07/13/ppi-june-2023-wholesale-prices-rise-less-than-expected.html
Short article at post time.
From the source -
Link to tweet
@BLS_gov
·
Follow
PPI for final demand advances 0.1% in June; services rise 0.2%, goods unchanged https://bls.gov/news.release/ppi.nr0.htm
#PPI #BLSdata
8:31 AM · Jul 13, 2023
= new reply since forum marked as read
Last edited Thu Jul 13, 2023, 11:44 AM - Edit history (3)
PPI (top, red graph): June: +0.1%, 12 months: +0.2%,
Average of last 3 months: -0.7% (annualized)
Rolling 3 month average (annualized) thru June'23, last 8 readings
4.0% 1.5% 2.0% 0.3% 0.1% -1.4% -2.8% -0.7%
^--The first number is the 3 month average Sep'22 - Nov'22
The second number is the 3 month average Oct'22 - Dec'22
The third number is the 3 month average Nov'22 - Jan'23
and so on with the last number being the 3 month average Apr'23-Jun'23
===================================================
CORE (final demand less foods, energy, and trade services, bottom blue graph): June: +0.1% , 12 months: +2.6%
Average of last 3 months: +0.8% (annualized)
Rolling 3 month average (annualized) thru June'23, last 8 readings
3.4% 2.9% 4.3% 4.0% 3.9% 2.2% 1.0% 0.8%
^--The first number is the 3 month average Sep'22 - Nov'22
The second number is the 3 month average Oct'22 - Dec'22
The third number is the 3 month average Nov'22 - Jan'23
and so on with the last number being the 3 month average Apr'23-Jun'23
===================================================
Latest PPI summary http://www.bls.gov/news.release/ppi.nr0.htm
Producer prices front page: http://www.bls.gov/ppi/
Producer Price Index (PPI), seasonally adjusted http://data.bls.gov/timeseries/WPSFD4?output_view=pct_1mth
OLD CORE PPI - Producer Price Index, seasonally adjusted - Final demand goods less foods and energy -
http://data.bls.gov/timeseries/WPSFD413?output_view=pct_1mth
CORE PPI - Producer Price Index, seasonally adjusted - Final demand less foods. energy. and trade services -
http://data.bls.gov/timeseries/WPSFD49116?output_view=pct_1mth
I use the latter Core PPI (final demand less foods, energy, and trade services) because that's what the BLS features in its news release).
===================================================
Graphs from yesterday's CPI report:
https://www.democraticunderground.com/10143099462#post12
This is the last inflation report before the Fed's rate-setting decision on July 26.
The PCE inflation report -- the Fed's favorite -- comes out after the meeting on July 28 (why don't they coordinate? I read the Federal Reserve has 800 PhD's in Economics, not enough apparently).
Thanks BRDS for the help on annotating graphs / images. I've come up with something that's a little more awkward than it should be (In Paint having to save the annotated image and then open it up again, can't just Control C copy instead), but anyway it works. More later. Thanks again.
