Summary
Earlier today, the Labor Department reported that producer prices in November rose 0.5%. Of interest to those folks who do not eat, heat or drive, the increase was 0.2% with food and energy excluded.
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NOTE: Sometime next week, we will have an initial look at the economy and the markets for the coming year. The piece will be posted in the "Investment Outlook" section of the GRA website.
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Earlier today, the Labor Department reported that during November, the Producer Price Index rose 0.5%. Excluding food and energy -- the so-called "core" rate, for those who think there is something sensible about looking at price levels with these essential items removed -- the PPI was up 0.2% during November.
Of interest regarding the core rate is its very discernable and continuing upward move over the last several months. For the three months ended November, the PPI, excluding food and energy, rose at a 3.4% annual rate, versus respective 3.7%, 1.6%, 1.3% and 1.1% rates for the three-month periods ended October, September, August and July.
Year over year through November, producer prices rose 5.0%. For the three months ended November, the PPI was up at an annual rate of 9.5%.
Consumer Producer Import
Price Index Price Index Prices
Month/ ---------------------------------------
Year Y/Y L3Mos* Y/Y L3Mos* Y/Y L3Mos*
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11/04 Rel. 12/17 5.0% 9.5% 9.5% 9.6%
10/04 3.2% 3.4% 4.4% 7.5% 9.9% 15.3%
09/04 2.5% 0.6% 3.3% 0.5% 8.2% 9.8%
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*Trailing three-month com-
pound annual rate of change.
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NOTE: The latest PPI data will be posted to the "Data & Charts" section of the GRA website.
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