industrial product price index -0.8% versus 0.0% expected

  • raw material price index, -11.7% versus -2.3% last month (revised for -2.4%)
  • industrial product price index -0.8% versus 0.0% expected. Prior month came at +0.2%
  • The decline in IPPI and RMPI was mainly due to lower prices for energy and petroleum products
  • of the 21 major commodity groups in the high PPI index, 3 were down and 17 were up with one unchanged. Despite that makes the decline in energy and petroleum products at -6.6% and chemical and chemical products at -1.6% dominated and led to the month-to-month decline
  • motor gasoline, -10.7%. The largest decrease since January 2015
  • light fuel oils, -6.4%
  • diesel fuel, -4.8%
  • The IPPI excluding energy and petroleum products rose 0.2%
  • IPPI year on year rose 2.8% versus 5.2% in October.
  • For the RMPI, for of the 6 major commodity groups were down and 2 were up. Crude energy products tumbled -24.9%.
  • RPI 12 month change from a year ago comes in at -9.9% vs +7.7% in October.

Declining energy is making a big impact on input inflation, or lack of it.