U.S. producer inflation continued to moderate in April with April PPI on a year-over-year basis, total PPI was up 2.3% versus up 2.7% in March. Excluding food and energy, PPI was up 3.2% versus 3.4% in March. PPI rose 0.2% month-over-month in April (consensus +0.3%) following an upwardly revised -0.4% decline (from -0.5%) in March. The index for final demand (Core PPI), excluding food and energy, increased 0.2% month-over-month in April (consensus +0.3%) following an upwardly revised unchanged reading (from … Continue reading “US Producer Price Inflation Moderates Again in April, +2.3% versus +2.7% in March”
Consumer Inflation in April Eases with Fed Screws Tightening, Core CPI Stays Elevated
Annual inflation cooled for the ninth straight month on a year-over-year basis, total CPI was up 4.9%, its lowest level since April 2021, just below last months, and expected 5 per cent. However, core-CPI only dipped slightly to 5.5% year on year, barely moving since the end of last year. On a monthly basis, the headline CPI index rose 0.4 per cent, versus a 0.1% gain in March. April’s increase was driven by housing costs and gasoline prices. core-CPI, which … Continue reading “Consumer Inflation in April Eases with Fed Screws Tightening, Core CPI Stays Elevated”
US Producer Price Inflation Fell Again in March, -0.5% m/m vs 0.0% Expected
US Producer price inflation for March (PPI) declined 0.5% month-over-month in March (consensus +0.1%) following an upwardly revised 0.0% reading (from -0.1%) in February. Excluding food and energy (core), the PPI index for final demand declined 0.1% month-over-month (consensus +0.2%) following an upwardly revised 0.2% increase (from 0.0%) in February. On a year-over-year basis, the PPI index for final demand was up 2.7% versus 4.9% in February, Core PPI was up 3.4% versus 4.8% in February year over year. The … Continue reading “US Producer Price Inflation Fell Again in March, -0.5% m/m vs 0.0% Expected”
Consumer Inflation in March Eases, Higher Shelter Prices Offsetting Fall in Energy Costs
Annual inflation cooled for the eighth straight month on a year-over-year basis, total CPI was up 5.0%, versus up 6.0% in February. That is the smallest 12-month increase since May 2021. However, core-CPI was up 5.6% year-over-year, versus up 5.5% in February. Higher shelter prices (0.6%) offsetting a 3.5% fall in energy cost. Food prices were unchanged. The report showed disinflation, but that trend doesn’t necessarily take a rate hike at the May FOMC meeting off the table with core-CPI … Continue reading “Consumer Inflation in March Eases, Higher Shelter Prices Offsetting Fall in Energy Costs”
US Producer Price Inflation Fell in February as Economy Faces Headwinds
US Producer price inflation for February (PPI) declined 0.1% month-over-month (consensus +0.3%) following a downwardly revised 0.3% increase (from 0.7%) in January. On a year-over-year basis, the index for final demand was up 4.6%. Core, excluding food and energy, the index for final demand was flat month-over-month (consensus +0.4%) following a downwardly revised 0.1% increase (from 0.5%) in January. On a year-over-year basis, this index was up 4.4%. The release was in line with a moderating Consumer Price Index we … Continue reading “US Producer Price Inflation Fell in February as Economy Faces Headwinds”
Modest Pullback in US Consumer Inflation in February as Core Services Prices Climb
Annual inflation cooled for the seventh straight month to 6.0% in February, however the pace of easing is starting to level off. The release came as concerns over an increasingly fragile financial system following the implosion of two regional banks. The fragility is complicating policymakers’ already bumpy path to slowing the economy. CPI is down notably from June’s peak 9.1% but had muted progress since January’s year-over-year increase of 6.4 per cent. Prices rose 0.4 per cent in February compared … Continue reading “Modest Pullback in US Consumer Inflation in February as Core Services Prices Climb”
US Producer Price Inflation Hotter Than Expected in January, Prior Month Revised Higher
US Producer price inflation for January (PPI) was up 0.7% month-over-month (consensus 0.4%) following an upwardly revised 0.2% decline (from -0.5%) in December. Core-PPI, which excludes food and energy, was up 0.5% month-over-month (consensus 0.3%) following an upwardly revised 0.3% increase (from 0.1%) in December. On a year-over-year basis, PPI was up 6.0%, versus 6.2% in December, and core-PPI was up 5.4%, versus 5.8% in December. The release was in line with a moderating Consumer Price Index we saw last … Continue reading “US Producer Price Inflation Hotter Than Expected in January, Prior Month Revised Higher”
US Consumer Inflation Moderating in January but Services Prices Still Accelerating
Annual inflation cooled for the seventh straight month to 6.4% in January, however the pace of easing is starting to level off. The prelude to the January CPI report was one of high expectations for the next direction of interest rates and market direction. Fed Swaps showed little change to the expected funds rate in 2023. After the dust settled prices were much the same prior release, the market has a plethora of Fed speakers today which may instigate the … Continue reading “US Consumer Inflation Moderating in January but Services Prices Still Accelerating”
US Producer Price Inflation Fell More Than Expected in December
US Producer price inflation for December fell -0.5% vs. -0.1% consensus and +0.2% in November (revised from +0.3%). On a year-over-year basis, the index for final demand was +6.2% Y/Y vs. +6.8% expected and +7.3% prior (revised from +7.4%). The release was in line with a softer Consumer Price Index we saw last week. Core PPI rose +0.1% vs. +0.1% expected and +0.2% prior (revised from +0.4%). Core PPI was +5.5% Y/Y vs. +5.7% expected and +6.2% prior (unchanged). In … Continue reading “US Producer Price Inflation Fell More Than Expected in December”
US Consumer Services Inflation Still Rising, 7.5% in December from 7.2% in November
The December CPI report had been overblown, like everything it seems these days. The headline numbers were as expected. The Consumer Price Index declined 0.1% m/m (consensus 0.0%), with a 9.4% m/m decline in the gasoline index, while core CPI, increased 0.3% m/m as expected. On a year-over-year basis, CPI was 6.5% from 7.1% in November. Core CPI was up 5.7% versus 6.0% in November. CPI was lower for a sixth straight month to the lowest since October 2021. However, services … Continue reading “US Consumer Services Inflation Still Rising, 7.5% in December from 7.2% in November”