Summary
Earlier today, the Labor Department reported that producer prices for finished goods rose 0.4% in February. With food and energy excluded, the Producer Price Index was up a modest 0.1% during the month -- great for those who do not eat, heat or drive!
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Earlier today, the Labor Department reported that the Producer Price Index rose 0.4% during February, a bit worse than a consensus forecast that was looking for a 0.3% gain. February's 0.4% increase compared with a rise of 0.3% in January.
Excluding food and energy -- the so-called "core" rate -- the PPI was up 0.1% during February. This compared with a 0.8% gain in January, which was the largest monthly rise in six years.
Of interest regarding the core rate is its continuing upward drift over the last several months. As of February, core PPI registered a 2.8% year-over-year gain, the largest 12-month increase in about nine years. This compared with respective year-over-year changes of 2.7%, 2.2%, 1.9%, and 1.7% for the 12-month periods ended January, December, November and October.
February 2005's 2.8% year-over-year rise in core PPI compared with a February 2004 gain of 0.9% from the year-earlier level.
Year over year through February, producer prices (all -- finished goods) rose 4.7%, versus a 2.1% increase for the 12 months ended February 2004.
Consumer Producer Import
Price Index Price Index Prices
Month/ ---------------------------------------
Year Y/Y L3Mos* Y/Y L3Mos* Y/Y L3Mos*
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02/05 Rel. 3/23 4.7% 1.3% 6.1% 0.0%
01/05 2.9% 1.3% 4.2% 2.1% 5.8% -4.1%
12/04 3.4% 3.4% 4.3% 7.2% 6.7% -0.4%
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*Trailing three-month com-
pound annual rate of change.
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Producer Price Index
(Finished Goods)
-- Y/Y Change
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Excl. Food
Year All Items & Energy
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2004 4.3% 2.2%
2003 4.0% 1.0%
2002 1.2% -0.6%
2001 -1.8% 1.0%
2000 4.1% 1.6%
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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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