The Producer Price Index, which measures what suppliers are charging businesses, rose 6% for the year ending in January. That’s down from December’s revised 6.5% and is at its lowest level since March 2021. On a monthly basis, US producer prices jumped by 0.7% from December. It’s the largest month-on-month gain since June 2022, BLS data shows. Economists were projecting year-over-year growth of 5.4% and a monthly gain of 0.4%, according to Refinitiv estimates.
Because the producer-centric index captures price shifts upstream of the consumer, it’s sometimes looked to as a potential leading indicator of how prices may eventually land at the store level. “January’s PPI report is a setback in the battle against inflation,” Kurt Rankin, PNC’s senior economist, wrote in a note Thursday. “PPI increases translate into CPI gains with a lag as producers pass their costs — both in terms of raw materials and in transportation of goods to market — on to consumers.
Goverment ,, they ran out of cake , so let them eat bugs
Fire Don Lemon
Inflation isn’t in it’s prime anymore…
I went to buy diet Mountain dew it was up 42 cents.I don't get that about inflation
The mastery of double speak. Let me translate. Food prices are again higher than they were a month ago and even though the prices are higher, the prices this month didn’t increase as fast as they did last month They have invited themselves to dinner at your house. Your treat
when do americans get the 'reduction' part of the inflation reduction act? asking for a friend...
End America hating, commie loving, drug dealer loving Biden assault on our constitution, bill of rights NOW!
why are they all actors? is it a coincidence, I mean, it could be that they all just work in TV... but why not tell us that?
I think our game of sending MAGA voters into bankruptcy through aggressive inflation is working! 🌊
“Producer prices” rising are not seperate from inflation. We’re not as dumb as you look…. What’s andrewcuomo up to these days
But Biden and the left and CNN said that the Inflation Reduction Act was bringing inflation down.
Nearly one - third of the January rise in the index for final demand goods can be traced to prices for gasoline , which increased 6.2 percent .
For the 12 months ended in January 2023 , prices for final demands less foods , energy , and trade services increased 4.5 percent .
Joe the Dope added $3.1 trillion to federal deficit, CBO reports
Don’t need your political spin. Inflation is up from last month.
Prices for long distance motor carrying and for securities brokerage , dealing , and investment advice also declined .
A major factor in the January rise in prices for final demand services was the index for hospital outpatient care , which jumped 1.4 percent .
You really want to drive that inflation narrative, huh?
On a monthly basis , US producer prices jumped by 0.7% from December .
There’s something wrong with the Federal Reserve calculations. Raising interest rates isn’t going to work. Inflation will ease when all the billions of free Money the Government gave out runs out.All else is irrelevant stats.
The Producer Price Index rose 6% for the month ending January .
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNN - 🏆 4. / 95 Read more »