December wholesale prices rose 0.2%, lower than expected, but still a new 12-month record

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According to the Ministry of Labor, wholesale prices were lower than expected in December, but they still set new standards when inflation was at a high level for nearly 40 years overall.

The Producer Price Index, which measures prices received by producers of goods, services and construction, rose 0.2% this month, half the Dow Jones estimate of 0.4%.

However, on a 12-month basis, the index rose 9.7% until the end of 2021, the highest calendar year increase in data dating back to 2010.

The monthly increase was significantly lower than the previous two months, showing an increase of 0.6% and 1%, respectively.

According to another report on Thursday, the first unemployed claims for the week ending January 8 totaled 230,000, well above the estimated 200,000 and significantly higher than the previous week’s 207,000. Has increased to.

However, the long-term trajectory of unemployment was low.

Continued billing, a week behind the number of headlines, has dropped from 194,000, the lowest level since June 2, 1973, to 1.56 million.

The unemployment rate continued to decline, with the December unemployment rate dropping to 3.9%, but the market is more focused on inflation. Thursday’s PPI measurements show a 7% year-on-year rise in the consumer price index, which measures the price paid at checkout for everyday goods and services, the largest 12-month rise since June 1982. It was done the next day.

Excluding food, energy and trade, so-called core PPIs increased 0.4% this month, below estimates of 0.5%.

Final food and energy demand prices both fell during the month, down 0.6% and 3.3%, respectively. Trade prices rose 0.8% and shipping and warehousing costs rose 1.7%.

Commodity prices actually fell 0.4% a month, offset by a 0.5% rise in services. The pandemic era is characterized by much stronger demand for commodities, contributing to the surge in consumer inflation.

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December wholesale prices rose 0.2%, lower than expected, but still a new 12-month record

Source link December wholesale prices rose 0.2%, lower than expected, but still a new 12-month record

The post December wholesale prices rose 0.2%, lower than expected, but still a new 12-month record appeared first on Eminetra.

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