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US Producer Prices Spike At Fastest Rate In 5 Years

Tuesday, March 14, 2017 7:10
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(Before It's News)

With tomorrow’s rate hike baked in the cake, today’s hotter than expected PPI print for February provides Yellen more cover (as economic growth forecasts slump). PPI Final Demand surged 2.2% YoY (more than expected) driven by a 4.0% YoY jump in final demand goods. This is the highest inflationary print since March 2012.

Final Demand Energy prices surged 19.8% YoY

In February, another major factor in the increase in prices for final demand services was the index for traveler accommodation services, which rose 4.3 percent. The indexes for chemicals and allied products wholesaling; legal services; apparel wholesaling; health, beauty, and optical goods retailing; and architectural and engineering services also moved higher. In contrast, the index for automotive fuels and lubricants retailing fell 10.0 percent. Prices for wireless telecommunication services and for securities brokerage, dealing, and investment advice also decreased. 70% of the increase in prices for final demand goods is attributable to the index for electric power.



Source: http://silveristhenew.com/2017/03/14/us-producer-prices-spike-at-fastest-rate-in-5-years/

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