Recent Updates
- ** New Zealand's Jobs Online Report has been delayed by the source, MBIE, until 6:00 PM ET 4/26.**
- Spain: Mortgage Market, Labor Force Survey (Q1) State Public Finance (Mar), Social Security Funds, Consolidated, Central Government PUblic Finances (Feb), Tax Receipts (Q1, Mar)
- South Africa: Tourism & Migration, Export & Import Price Index (Feb), PPI (Mar); Kenya: GDP (2017)
- UK: RICS Commercial Market Survey (Q1) Mortgage and Consumer Lending, Average Precipitation (Mar), CBI Distributive Trade
- more updates...
Economy in Brief
Japan Shows Very Moderate Growth As Trade War Clouds Gather
Japan’s sector indexes showed a solid gain in February...
U.S. Consumer Confidence Unexpectedly Rose in April
The Conference Board Consumer Confidence Index rose to 128.7 in April from 127.0 (initially reported as 127.7) in March...
U.S. New Home Sales and Prices Strengthen
Sales of new single-family homes during March increased 4.0% (8.8% y/y) to 694,000 (SAAR)...
U.S. FHFA House Price Index Continues to Strengthen
The FHFA index of U.S. house prices rose 0.6% during February...
U.S. Energy Prices Rise Further
Retail gasoline prices increased to $2.80 per gallon last week (14.3% y/y)...
by Tom Moeller October 12, 2012
The producer price index for finished goods jumped again last
month. The 1.1% increase (2.2% y/y) followed a 1.7% August rise and beat
expectations for a 0.7% gain. Conversely, the unchanged level (2.3% y/y)
of prices excluding food & energy surprised expectations for a 0.2%
increase. Higher energy prices provided the lift to September's overall
index with a 4.7% gain (-7.9% y/y). Gasoline prices jumped 9.8% (8.5% y/y)
and home heating oil prices gained 3.1% (6.8% y/y). Food prices were
relatively tame and rose 0.2% (1.8% y/y). That increase was led by a 5.4%
y/y rise in prices for fresh fruits and a 9.4% y/y gain in meat prices.
These strengths were offset by a 15.9% decline in vegetable prices.
Finished consumer goods prices jumped 1.6% (2.4% y/y). Excluding food & energy, consumer goods prices rose 0.2% (3.0% y/y). Within the components, men's apparel prices rose 3.2% y/y while women's clothing costs increased 0.2% y/y. Household appliance prices gained 5.1% since September of 2011, furniture prices rose 1.7% y/y and passenger car prices increased 1.6% y/y. Capital equipment prices slipped 0.1% last month (+1.7% y/y).
Intermediate goods prices jumped 1.5% (-0.1% y/y) as energy costs spiked 4.3% (0.7% y/y), about as they did in August. Also strong were food prices with a 2.0% rise (5.6% y/y). Core-intermediate prices rose 0.6% but still were off 1.2% y/y. Crude goods prices gained 2.8% (-2.6% y/y) last month bolstered by a 1.6% gain (-8.8% y/y) in prices less food & energy. Energy prices jumped 4.4% (-6.1% y/y) while food prices increased another 1.6% (5.2% y/y) due to drought conditions in the Midwest. Prices less food & energy gained 1.6% and were down 8.8% over the prior twelve months.
The PPI data are contained in Haver's USECON database with further detail in PPI and PPIR. The expectations figures are available in the AS1REPNA database.
Producer Price Index(%) | Sep | Aug | Jul | Sep Y/Y | 2011 | 2010 | 2009 |
---|---|---|---|---|---|---|---|
Finished Goods | 1.1 | 1.7 | 0.3 | 2.2 | 6.0 | 4.2 | -2.5 |
Less Food & Energy | 0.0 | 0.2 | 0.4 | 2.3 | 2.4 | 1.2 | 2.6 |
Foods | 0.2 | 0.9 | 0.5 | 1.8 | 6.3 | 3.9 | -1.4 |
Energy | 4.7 | 6.4 | -0.4 | 2.1 | 15.7 | 13.6 | -17.6 |
Intermediate Goods | 1.5 | 1.1 | -0.9 | -0.1 | 9.1 | 6.4 | -8.4 |
Less Food & Energy | 0.6 | -0.2 | -0.9 | -1.1 | 6.2 | 4.3 | -4.2 |
Crude Goods | 2.8 | 5.8 | 1.8 | -2.6 | 17.4 | 21.4 | -30.3 |
Less Food & Energy | 1.6 | 2.2 | -1.1 | -8.8 | 18.5 | 32.5 | -23.3 |