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Producer Prices Rise the Most Year-Over-Year Since the Series Stated in 2010

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11 comments on Producer Prices Rise the Most Year-Over-Year Since the Series Stated in 2010

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The Producer Price Index (PPI) is up 9.6% from a year ago according to the BLS. That’s the most in the history of the data. 

PPI Month-Over-Month

PPI Key Details 

  • The Producer Price Index for final demand increased 0.8 percent in November.
  • Final demand prices moved up 0.6 percent in each of the 3 prior months. 
  • On an unadjusted basis, the final demand index rose 9.6 percent for the 12 months ended in November, the largest advance since 12-month data were first calculated in November 2010. 
  • In November, the index for final demand services rose 0.7 percent and prices for final demand goods increased 1.2 percent. 
  • The index for final demand less foods, energy, and trade services moved up 0.7 percent in November, the largest rise since climbing 0.8 percent in July. 
  • For the 12 months ended in November, prices for final demand less foods, energy, and trade services increased 6.9 percent, the largest advance since 12-month data were first calculated in August 2014.  

Year-Over-Year Synopsis 

  • Energy: Up 43.6%
  • Goods: Up 14.9%
  • Overall: Up 9.6%
  • Services: Up 7.1%

PPI Notes

Energy is a small subset of goods. And despite goods being up 14.9%, the overall PPI is only up 9.6%.

Energy is a relatively small component of goods, and goods have a much smaller weight in the PPI than services.

Bond Market Yawns

Bonds barely moved today with yields fluctuating between +- two basis points, with a basis point being 1/100th of a percentage point.

This report was already factored in to the price of bonds.

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Mike Shedlock

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11 Comments
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Casual_Observer2020
Casual_Observer2020
4 years ago
Trouble has arrived again at Arizona hospitals. Happy 2nd birthday covid. 
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Jojo
Jojo
4 years ago
Reply to  Casual_Observer2020
“Nearly 90% of Banner patients undergoing treatment for COVID-19 are unvaccinated. Some days, the percentage of unvaccinated COVID-19 patients in intensive care has been 100%. Bessel reiterated that vaccinations were the key to reducing the burden on health care workers.”
And once these people recover, they will have strong immunity against further Covid infections.  The small number that don’t make it probably should have lost weight or lived healthier.
Regardless, it isn’t the job of the patient to be concerned with hospital patient support capacity.  If they don’t have enough capacity, then they need to build more rooms.  Put a 50% cut on their executive pay and they can probably easily afford it. 
Accept the poison CoVax to help the hospitals capacity doesn’t compute.
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RonJ
RonJ
4 years ago
Reply to  Jojo
 “Bessel reiterated that vaccinations were the key to reducing the burden on health care workers.”
Dr. McCullough said in an interview with Joe Rogan, that early treatment would have prevented 85% of deaths from Covid-19.
That would also have reduced the burden on health care workers, as there would have been a major reduction in hospitalizations as well.
As the subject is inflation, that would have deflated the number of hospitalizations.
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Jojo
Jojo
4 years ago
Social Security beneficiaries won’t receive their first inflation adjusted check based on numbers up to Oct 1 until the January payment schedule.  Given the continual steep increase in inflation since then, SS should issue a 6 month increase in 2022.
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Carl_R
Carl_R
4 years ago
Reply to  Jojo
The did manage to work in a 15% hike in Medicare, though.
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ColoradoAccountant
ColoradoAccountant
4 years ago
Sorry, another movie post (used “I am Legend” regarding vaccines).  In “Lawrence of Arabia”  Sterling was the go to currency in the Middle East.  It just seems that over time, the currency represents your leaders.
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Carl_R
Carl_R
4 years ago
Some plastic I buy just went up 28% from a couple of months ago. Other supplies are up 10-15%.
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StukiMoi
StukiMoi
4 years ago
Reply to  Carl_R
….Third world problems……
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GaryL
GaryL
4 years ago
The bond market apparently sees a return to benign inflation. Of course, the stated objective of the Biden administration is an MMT-like (maybe exactly like) inflating at all costs, and so far the inflation numbers say they are successful. There is such a thing as an interest rate dislocation where rates rise precipitously in a short amount of time. It could happen and has happened before. I bet it will. And asset markets would not like it.
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Stan888
Stan888
4 years ago
Xiden will try to implement Soviet style price controls….to protect you from evil greedy corporations.
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Carl_R
Carl_R
4 years ago
Reply to  Stan888
I thought only Republicans ever instituted wage and price controls?
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