Producer Price Index for January 2022

 

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

The Producer Price Index for final demand increased 1.0 percent in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This rise followed advances of 0.4 percent in December 2021 and 0.9 percent in November. On an unadjusted basis, final demand prices moved up 9.7 percent for the 12 months ended January 2022. 

In January, the index for final demand services rose 0.7 percent, and prices for final demand goods moved up 1.3 percent.

Again, an ever so slight deceleration in upstream stages. (note the Eurostat for US is my estimate as the actual info has not been published).

The retail report tomorrow, while also backward looking, could provide some indication of future activity.

Just read an article that said $115 per barrel of oil could drive inflation to 10%. My calculations indicate a figure nearer to 8.4%, which leaves the over 92% of the remaining to increase above that rate. Let's not fixate on just one part of the consumer purchasing basket, imo.