Is PPI cooling for the Average Person? October 2022, PPI Release

The BLS has released the October Producer Price Index Report. (historical releases)

The Producer Price Index for final demand increased 0.2 percent in October, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices rose 0.2 percent in September and were unchanged in August. On an unadjusted basis, the index for final demand advanced 8.0 percent for the 12 months ended in October. 

You can read it all at the link, but this caught my eye...

Product detail: In October, 60 percent of the increase in prices for final demand goods is attributable to the index for gasoline, which rose 5.7 percent. Prices for diesel fuel, fresh and dry vegetables, residential electric power, chicken eggs, and oil field and gas field machinery also advanced. In contrast, the index for passenger cars declined 1.5 percent. (In accordance with usual practice, most new-model-year passenger cars and light motor trucks were introduced into the PPI in October. See Report on Quality Changes for 2023 Model Vehicles at www.bls.gov/web/ppi/ppimotveh.htm.) Prices for gas fuels and for processed young chickens also fell.

All in all a seemingly good report, as long as you avoid the food and energy section, and focus on services, which slid.

Just to clarify, a slowing of inflation does seem to be in the offing, but slowing does not mean reversal. Also, food and energy will still be an issue for us poorer folks through this winter. 

BRRR!