By Tom Burnett CFA
On March 15, 2023, the Bureau of Labor Statistics reported the Producer Price Index information for February. The PPI fell by 0.1% in February, after advancing 0.3% in January. Over the past 12 months, the PPI has risen by 4.6%, well below the 11.7% 12-month increase for March 2022, and lower than each 12-month rate in 2022. In February, the decline was led by a decline in the prices of goods which fell 0.2%. The index for services was down by 0.1%.
The Core Index, excluding food and energy, increased 0.2% in February, after rising by 0.5% in January. For the last 12 months, the Core Index rose by 4.4%, the lowest year-over-year figure since 2021.
The next PPI report will be issued on April 13, 2023.
Tom Burnett CFA is Director of Research