Widget Image
Follow PPD Social Media
Tuesday, June 25, 2024
HomeNewsEconomyProducer Price Index (PPI) Continues Positive Inflation Trend for Third Straight Month

Producer Price Index (PPI) Continues Positive Inflation Trend for Third Straight Month

Producer Price Index (PPI) Graphic
Producer Price Index (PPI) Graphic

Producer Price Index (PPI) Graphic

The Producer Price Index (PPI) again offered positive news on inflation in November, rising 0.4% for the third straight month in a row. Further, the Bureau of Labor Statistics (BLS) and Labor Department (DOL) report showed the year-on-year rate on an unadjusted basis rose 0.3% to 3.1%, the highest in nearly 6 years.

That’s the largest advance since a 3.1% gain for the 12 months ended January 2012. With today’s report, the Federal Open Markets Committee (FOMC) is all but certain to raise rates at the policy-making meeting on Wednesday.

Inflation hasn’t been strong enough with the economy at full employment.

In November, three-fourths of the rise in the final demand index is attributable to a 1.0% gain in prices for final demand goods. The index for final demand services climbed 0.2%. The index for final demand less foods, energy, and trade services rose 0.4% in November, the largest advance since increasing 0.6 percent in April.

For the 12 months ended in November, prices for final demand less foods, energy, and trade services moved up 2.4%.

Written by

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial