Tuesday, February 26, 2008

Producer Price Index - January

Wholesales prices soared in the month of January, stirring up fears of widespread inflation and complicating matters with the Federal Reserve and its monetary policy.

The PPI climbed by one full percent in January, due in part by a jump in food and energy prices. Core PPI, which excludes food and energy due to their volatile nature, also climbed 0.4%, indicating a broad, widespread inflationary trend. Economists were expecting the index to rise by 0.4%, and the core index to rise by 0.3%.

Year-over-year, the PPI is up 7.4%, the fastest pace since 1981. Core PPI is up 2.3%.

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