–YOY PPI +3.5%, YOY Core PPI +1.2%
By Brai Odion-Esene
WASHINGTON (MNI) – The U.S. November PPI data came in just above
expectations, while the index excluding food and energy rose last month
following a surprise 0.6% drop in October.
November PPI printed +0.8% and core +0.3% for over-the-year rates
of +3.5% overall and +1.2% core. The last is up from +0.1% in October,
marking a trend higher.
The rise in core prices was led by +1.7% in passenger cars and
+0.3% in light trucks. According to BLS analyst, higher demand and
“reasonable” inventories boosted prices for cars. The increase in
passenger car prices is largest since 2.0% rise in November 2006.
Overall PPI received its main boost from 2.1% rise in prices of
finished energy goods — the index excluding energy was only up 0.4%.
Within the index, gasoline prices rose 4.7%.
Finished consumer food prices also rose, up 1.0%. Advance was led
by 22.7% rise in prices for eggs, as well as fresh fruits and melons
(+13.6%).
Intermediate PPI was ++1.1% and crude +0.6% on nonfood materials
excluding energy (+3.1%) and foodstuffs (+0.7%).
** Market News International Washington Bureau: (202) 371-2121 **
[TOPICS: MAUDS$,M$U$$$,MT$$$$,MAUDR$]
