For Final Demand Goods, Final Demand Services, and Intermediate Services; and a 46 year High for Prices of Intermediate Goods, Commenter and Blogger RJS, MarketWatch 666 The seasonally adjusted Producer Price Index (PPI) for final demand rose 1.0% in July, as prices for finished wholesale goods rose 0.6% while margins of final services providers rose 1.1%…that increase followed a June report that also had the PPI 1.0% higher, but with prices for finished wholesale goods 1.2% higher while margins of final services providers rose 0.8%, a May report that the PPI had risen 0.8%, as prices for finished wholesale goods rose 1.5% while margins of final services providers rose 0.6%, a now revised April report that the PPI was 0.7% higher, as prices for
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for Final Demand Goods, Final Demand Services, and Intermediate Services; and a 46 year High for Prices of Intermediate Goods, Commenter and Blogger RJS, MarketWatch 666
The seasonally adjusted Producer Price Index (PPI) for final demand rose 1.0% in July, as prices for finished wholesale goods rose 0.6% while margins of final services providers rose 1.1%…that increase followed a June report that also had the PPI 1.0% higher, but with prices for finished wholesale goods 1.2% higher while margins of final services providers rose 0.8%, a May report that the PPI had risen 0.8%, as prices for finished wholesale goods rose 1.5% while margins of final services providers rose 0.6%, a now revised April report that the PPI was 0.7% higher, as prices for finished wholesale goods rose 0.6% while margins of final services providers rose by 0.9%, and a rerevised March report that has the PPI 0.8% higher, as prices for finished wholesale goods rose 1.5% while margins of final services providers rose 0.3%…on an unadjusted basis, producer prices are now a record 7.8% higher than a year ago, up from the 7.2% year over year increase reported for June’s producer prices, while the core producer price index, which excludes food, energy and trade services, rose by 0.9% for the month, and is now 6.1% higher than in July a year ago, up from the 5.5% year over year increase that was shown in June…
As noted, the price index for final demand for goods, aka ‘finished goods’, was 0.6% higher in July, after being 1.2% higher in June, 1.5% higher in May, 0.6% higher in April, 1.5% higher in March, 1.6% higher in February, 1.6% higher in January, 0.9% higher in December, 0.4% higher in November, 0.5% higher in October, 0.4% higher in September, 0.4% higher in August, 0.5% higher in July, and 0.4% higher in June of last year, and hence is now up by a record 11.9% from a year ago….the finished goods price index rose 0.6% in July even though the price index for wholesale foods fell 2.1%, after rising by 0.8% in June, 2.6% in May, by 2.0% in April, by 0.6% in March, by 1.4% in February, and by 1.6% in January, and as the price index for wholesale energy goods was 2.6% higher, after it had risen 2.2% in May, fallen by 2.4% in April, risen by 5.9% in March, by 5.8% in February, and by 5.1% in January….meanwhile, the index for final demand for core wholesale goods (excluding food and energy) was 1.0% higher, after it had risen by 1.0% in June, 1.1% in May, by 1.0% in April, by 0.9% in March, by 0.3% in February and by 0.8% in January….wholesale energy prices averaged 2.6% higher due to a 6.2% increase in wholesale prices for gasoline, a 7.2% increase in wholesale prices for home heating oil, and a 14.2% increase in wholesale prices for LP gas, while the wholesale food price index fell 2.1% on a 11.6% decrease in the wholesale price index for beef and veal, an 8.1% decrease in the wholesale price index for pork, and a 4.4% decrease in wholesale price index for fresh fruits and melons…among core wholesale goods, the wholesale price index for tires rose 3.7%, the wholesale price index for tobacco products rose 2.7%, the wholesale price index for mining machinery and equipment rose 5.5%, the wholesale price index for household appliances rose 2.9%, and the wholesale price index for pumps, compressors, and related equipment rose 2/1%…
At the same time, the index for final demand for services rose 1.1% in July, after rising 0.6% in June, 0.6% in May, a revised 0.7% in April, a revised 0.3% in March, 0.3% in February and 1.0% in January, and is now up by a record 5.8% from a year ago, as the index for final demand for trade services rose 1.7%, the index for final demand for transportation and warehousing services rose 2.7%, and the core index for final demand for services less trade, transportation, and warehousing services was 0.6% higher… among trade services, seasonally adjusted margins for automobile retailers rose 17.4% for the second straight month, margins for TV, video, and photographic equipment and supplies retailers rose 13.3%, margins for furnishings wholesalers rose 4.9%, and margins for RVs, trailers, and campers retailers rose 6.0%, while margins for fuels and lubricants retailers fell 3.2%…among transportation and warehousing services, average margins for truck transportation of freight rose 0.6% and margins for airline passenger services rose 9.1%…among the components of the core final demand for services index, the index for securities brokerage, dealing, investment advice, and related services rose 6.2%, margins for hospital outpatient care rose 2.3%, the price index for arrangement of cruises and tours rose 10.4%, the price index for traveler accommodation services rose 6.2%, and the price index for gaming receipts (partial) rose 6.4%, while index for application software publishing fell 3.4% …
This report also showed the price index for intermediate processed goods rose 1.7% in July, after rising 1.9% in June, 2.8% in May, 1.6% in April, a revised 3.5% in March, 2.9% in February, and 1.8% in January, 1.4% in December, 0.9% in November, 0.9% in October, 0.6% in September, 0.9% in August, and 1.4% in July of last year… the price index for intermediate energy goods rose 4.0% in July, as refinery prices for jet fuel rose 6.2%, refinery prices for gasoline rose 6.2%, producer prices for LP gas rose 14.2%, and producer prices for natural gas to electric utilities rose 24.3%, while producer prices for industrial natural gas fell 2.6%… meanwhile, the price index for intermediate processed foods and feeds fell 1.6%, as the producer price index for meats fell 7.6%, the producer price index for processed poultry fell 7.1%, and the producer price index for refined sugar and byproducts fell 1.8%…at the same time, the core price index for intermediate processed goods less food and energy rose 1.6% as the producer price index for cold rolled steel sheet and strip rose 22.9%, the producer price index for steel mill products rose 10.8%, the producer price index for metal containers rose 4.6%, the producer price index for plastic construction products rose 4.5%, the producer price index for wiring devices rose 4.8%, the producer price index for nitrogenates rose 7.5%, the producer price index for phosphates rose 8.0%, and the producer price index for building paper and board rose 6.7%, while the price of softwood lumber fell 29.0%…average prices for intermediate processed goods are now 22.9% higher than in June a year ago, the largest year over year price increase since the year ended February 1975, but just the eighth increase after 19 consecutive year over year decreases, which had followed 29 months of year over year increases, which had been preceded by 16 months of negative year over year comparisons, as prices for intermediate goods fell every month from July 2015 through March 2016….
The price index for intermediate unprocessed goods rose 1.4% in July, after rising 2.6% in June, 8.4% in May, and a revised 1.0% in April, after falling a revised 4.2% in March and after rising 11.9% in February, and rising by 5.3% in January, 2.1% in December, by 6.3% in November, 1.3% in October, 5.2% in September, 4.0% in August, and by 0.6% last July….that was as the June price index for crude energy goods rose 6.5% as crude oil prices rose 3.0%, unprocessed natural gas prices rose 13.5%, and coal prices rose 0.6%, while the price index for unprocessed foodstuffs and feedstuffs fell 2.5% on an 8.2% decrease in producer prices for slaughter hogs, a 4.8% decrease in producer prices for corn, a 5.1% decrease in producer prices for oilseeds, an 8.1% decrease in producer prices for alfalfa hay, and a 5.5% decrease in producer prices for raw milk….at the same time, the index for core raw materials other than food and energy materials was unchanged, even as the price index for iron ore rose 16.5% and the price index for recyclable paper rose 21.9%.. this raw materials index is now 55.0% higher than a year ago, which is actually down from the 57.9% year over year increase recorded in May, but just the ninth year over year increase after the annual change on this index had been negative from the beginning of 2019 through October of last year…
Lastly, the price index for services for intermediate demand rose 1.0% in July, after rising 1.1% in June, 0.8% in May, a revised 0.6% in April, a revised 0.6% in March, 0.3% in February, and rising 1.1% in January, and 0.7% in December 2020, after being unchanged in November, rising 0.7% in October, rising 1.1% in September, 0.8% in August, and 0.5% last July….the price index for intermediate trade services was 2.1% higher, as margins for intermediate machinery and equipment parts and supplies wholesalers rose 4.6%, margins for intermediate metals, minerals, and ores wholesalers rose 5.2%, and margins for intermediate building materials, paint, and hardware wholesalers rose 1.4%…meanwhile, the index for transportation and warehousing services for intermediate demand was 0.6% higher, as the intermediate price index for transportation of passengers rose 9.0%, the intermediate price index for air mail and package delivery services, excluding by USPS, rose 1.4%, and the intermediate price index for warehousing, storage, and related services rose 1.0%….at the same time, the core price index for intermediate services other than trade, transportation, and warehousing services rose 0.7%, as the intermediate price index for internet advertising space sales, excluding internet ads sold by print publishers rose 8.6%, the intermediate price index for securities brokerage, dealing, investment advice, and related services rose 6.2%, the intermediate price index for nonresidential real estate rents rose 2.2%, the intermediate price index for business loans (partial) rose 2.8%, and the intermediate price index for traveler accommodation services rose 6.2%, while the intermediate price index for passenger car rental fell 2.8%…over the 12 months ended in June, the year over year price index for services for intermediate demand is now 9.2% higher than it was a year ago, the tenth consecutive positive annual change since it briefly turned negative year over year from April to August of last year, and the largest 12-month advance in the eleven year history of this index..