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- U.S. PPI rises more than anticipated in January
U.S. PPI rises more than anticipated in January
The Labor
Department reported on Wednesday the U.S. producer-price index (PPI) rose 1.3
percent m-o-m in January 2021, following an unrevised 0.3 percent m-o-m gain in
December 2020. This advance was the largest since the index began in December
2009.
For the 12
months through January, the PPI increased 1.7 percent after an unrevised 0.8
percent advance in the previous month. That was the largest increase since the 12
months ended January 2020.
Economists had
forecast the headline PPI would increase 0.4 percent m-o-m last month and 0.9
percent over the past 12 months.
According to
the report, two-thirds of the January increase in prices for final demand can
be traced to a 1.3-percent m-o-m rise in the index for final demand services. In
addition, prices for final demand goods rose 1.4 percent m-o-m.
Excluding
volatile prices for food and energy, the PPI went up 1.2 percent m-o-m and
jumped 2.0 percent over 12 months. Economists had forecast gains of 0.2 percent
m-o-m and 1.1 percent y-o-y.
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