Producer Price Index for November 2021

 

The Producer Price Index as released by the BLS, this A.M. 

The Producer Price Index for final demand increased 0.8 percent in November, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices moved up 0.6 percent in each of the 3 prior months. (See table A.) On an unadjusted basis, the final demand index rose 9.6 percent for the 12 months ended in November, the largest advance since 12-month data were first calculated in November 2010.

In November, the index for final demand services rose 0.7 percent and prices for final demand goods increased 1.2 percent.

Clearly not good, looking forwards. The Final Demand is higher than previous month, as is the intermediates. It would appear that a lot of inflation is to be passed on to the eventual consumer. There appears to be limited hope of annual inflation falling below 3% before next summer, based on these numbers. 

It should be noted that this is all in the review mirror as will be tomorrow's  Retail numbers. Those retail numbers, however... could provide a clue going forward.