By Tom Burnett CFA
On December 14, 2021, the Bureau of Labor Statistics announced the producer price index information for November. The final demand Index rose 0.8% in November, following increases of 0.6% in each of the three prior months. For the 12 months ending in November, the final demand Index rose 9.6%, the largest advance since the 12-month information was first calculated in November 2010. A year ago, the 12-month figure was just 0.8%. The final demand 12-month figure has risen is each month of 2021. In November, the Index for Services rose 0.7% while prices for goods increased by 1.2%.
The ‘Core’ Index, excluding food and energy, increased by 0.7% in November, the largest rise since climbing 0.8% in July. The Core Index increased 6.9% in the 12 months ending in November, the largest rise since the 12-month information was first reported in August 2014. One year ago, the Core 12-month figure was just 1.0%.
The next PPI release will be announced on January 14, 2022.
Tom Burnett CFA is Director of Research