Prices at the wholesale level surged twice the anticipated level in January as inflation pressures were untamed to start the year.
- The producer price index expanded 1% for the month, against the Dow Jones estimate for 0.5%. Over the last 12 months, the gauge expanded an unadjusted 9.7%.
- The so-called core PPI, excluding food, energy and trade services rose 0.9% for the month, surpassing the 0.45 estimate. For the 12-month period, the gauge rose 6.9%.
- Both core and headline PPI increases over the year were 0.1% lower than the record levels posted in December 2021.
- Good prices surpassed those for services, surging 1.3% and 0.7%, respectively. The increases emerge after rising inflation across the economy.
Final demand energy prices rose 2.5% in January as food prices rose 1.6%.
DXY down -0.29%, EUR USD up +0.43%
Source: US Bureau of Labor Statistics
