PPI Falls 0.1% in Nov., Reflecting Lower Food, Energy Costs
Tweet
Share
E-mail
U.S. markets are up in early trading Friday following the latest producer price index (PPI) data.
The U.S. Labor Department said wholesale prices fell 0.1 percent in November, the third month of declines for the metric. Street estimates called for a flat reading.
Core PPI, which excludes food and energy, showed a 0.1 percent gain, flat in line with the consensus.
November's number was narrower than a 0.2 percent drop reported in October 2013 and a 0.7 percent increase from the same period in 2012.
The index for finished energy goods declined 0.4 percent in November after falling 1.5 percent in October. Nearly three-quarters of the November decrease is attributable to gasoline prices, which moved down 0.7 percent. Lower prices for diesel fuel and home heating oil also were factors in the decline in the index for finished energy goods.
Prices for finished consumer foods were unchanged in November subsequent to a 0.8-percent rise a month earlier. In November, higher prices for pork were offset by lower prices for processed young chickens.
Following a spike in initial jobless claims earlier this week, the Fed now has a little more leeway when mulling when to taper its $85 billion-per-month bond-buying program given slowing signs of accelerating inflation.
Import prices for November dropped 0.6 percent, according to a report out Thursday. The Labor Department will also release CPI data next Tuesday.
The U.S. Labor Department said wholesale prices fell 0.1 percent in November, the third month of declines for the metric. Street estimates called for a flat reading.
Core PPI, which excludes food and energy, showed a 0.1 percent gain, flat in line with the consensus.
November's number was narrower than a 0.2 percent drop reported in October 2013 and a 0.7 percent increase from the same period in 2012.
The index for finished energy goods declined 0.4 percent in November after falling 1.5 percent in October. Nearly three-quarters of the November decrease is attributable to gasoline prices, which moved down 0.7 percent. Lower prices for diesel fuel and home heating oil also were factors in the decline in the index for finished energy goods.
Prices for finished consumer foods were unchanged in November subsequent to a 0.8-percent rise a month earlier. In November, higher prices for pork were offset by lower prices for processed young chickens.
Following a spike in initial jobless claims earlier this week, the Fed now has a little more leeway when mulling when to taper its $85 billion-per-month bond-buying program given slowing signs of accelerating inflation.
Import prices for November dropped 0.6 percent, according to a report out Thursday. The Labor Department will also release CPI data next Tuesday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- S&P closes at record high as soft jobs report eases rate-hike concerns
- Santa Rally window opens in 3 months: small-caps and tech lead the way
- New survey shows risks from crowded trades are rising
Create E-mail Alert Related Categories
ETFs, Economic DataRelated Entities
Initial Jobless ClaimsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
