Producer Price Index Details
- The Producer Price Index for final demand advanced 0.2 percent in April, seasonally adjusted.
- On an unadjusted basis, the index for final demand moved up 2.3 percent for the 12 months ended in April.
- In April, 80 percent of the rise in the index for final demand is attributable to a 0.3-percent increase in prices for final demand services.
- The index for final demand goods advanced 0.2 percent.
- Prices for final demand less foods, energy, and trade services rose 0.2 percent in April after inching up 0.1 percent in March.
- For the 12 months ended in April, the index for final demand less foods, energy, and trade services increased 3.4 percent.
Producer Price Index Month-Over-Month
Final Demand Goods
- Prices for final demand goods increased 0.2 percent in April after falling 1.0 percent in March. Leading the advance, the index for final demand energy rose 0.8 percent.
- Prices for final demand goods less foods and energy moved up 0.2 percent. In contrast, the index for final demand foods decreased 0.5 percent.
- An 8.4-percent advance in prices for gasoline was a major factor in the April increase in the index for final demand goods.
- Prices for fresh and dry vegetables, carbon steel scrap, plastic resins and materials, aircraft and aircraft equipment, and fluid power equipment also moved higher.
- The index for chicken eggs dropped 37.9 percent. Prices for jet fuel and for light motor trucks declined.
Final Demand Services
- Prices for final demand services moved up 0.3 percent in April, the largest increase since a 0.4-percent rise in November 2022.
- Over one-third of the April advance in the index for final demand services can be traced to a 4.1-percent rise in prices for portfolio management.
- Margins for final demand trade services increased 0.5 percent.
- The index for final demand transportation and warehousing services decreased 1.7 percent.
- Prices for long-distance motor carrying declined 2.3 percent.
- The indexes for food and alcohol wholesaling, outpatient care (partial), loan services (partial), hospital inpatient care, and guestroom rental moved higher.
- The indexes for food retailing and for securities brokerage, dealing, and investment fell.
Pay attention falling PPI for trucking despite a big jump in the cost of energy. This indicates a falling demand for goods.
Initial Unemployment Claims Jump the Most Since October of 2021
The number of initial and continued claims are low historically. However, shifts up from major lows are recession signals.
The number of continued claims is now well above the post- and pre-Covid lows.
For discussion, please see Initial Unemployment Claims Jump the Most Since October of 2021
This post originated at MishTalk.Com
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