US producer price index data for August 2021
- prior month
- PPI YoY 8.3% vs 7.8% last month. The advance was the largest on record going back to November 2010
- final demand services rose by 0.7%. Final demand goods rose by 1%
- PPI Core 6.7% vs 6.2% last month and 6.7% expected
- PPI MoM 0.7% vs 0.6% estimate. Last month 1.0%. This was the eighth consecutive increase
- PPI Core MoM 0.6% vs 0.5% estimate. Last month 0.9%
- PPI less food, energy and trade services rose 0.3% versus 0.9% in July
- PPI less food, energy and trade services year on year rose 6.3%. This was the largest advance scents August 2014 when the data was first calculated
highlights:
- Over 30 percent of the August increase in prices for final demand services can be traced to a 7.8-percent rise in margins for health, beauty, and optical goods retailing.
- The indexes for transportation of passengers (partial), chemicals and allied products wholesaling, bundled wired telecommunications access services, machinery and equipment parts and supplies wholesaling, and traveler accommodation services also moved higher.
- Conversely, prices for hospital outpatient care fell 1.5 percent. The indexes for hardware, building materials, and supplies retailing and for securities brokerage, dealing, investment advice, and related services also decreased.
- In August, half of the broad-based advance in final demand for goods can be attributed to a 2.9- percent rise in prices for final demand foods. The indexes for final demand goods less foods and energy and for final demand energy also moved higher, 0.6 percent and 0.4 percent, respectively.
- About a quarter of the August advance in prices for final demand goods can be attributed to an 8.5-percent rise in the index for meats. Prices for residential natural gas, industrial chemicals, processed young chickens, motor vehicles, and steel mill products also moved higher. In contrast, the index for iron and steel scrap decreased 3.7 percent. Prices for diesel fuel and for natural, processed, and imitation cheese also moved lower.
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US stocks continue to all the gains despite the higher-than-expected inflation reading:
- Dow futures are implying a gain of 167 points
- NASDAQ up 62 points
- S&P index up 18 points
