Commenter and writer RJS describes himself as “unencumbered by education, affiliations, beliefs or agenda and im not advocating anything.” Market Watch 666
The seasonally adjusted Producer Price Index (PPI) for final demand rose 1.3% in January, as prices for finished wholesale goods were on average 1.4% higher, while margins of final services providers increased by 1.3% . . . that followed a revised December report that now shows the PPI was up 0.3%, with prices for finished wholesale goods up 1.0% while margins of final services providers were 0.1% lower, a revised November report that shows the PPI was 0.1% higher, with prices for finished wholesale goods rising 0.3% while margins of final services providers decreased 0.2%, a revised October report that indicates the PPI was 0.5% higher, with prices for finished wholesale goods rising 0.6% and margins of final services providers rising 0.5%, and a revised September report that indicates the PPI was 0.3% higher, with prices for finished wholesale goods 0.4% higher and margins of final services providers 0.2% higher . . . revisions to prior reports with this release reflect the routine annual recalculation of seasonal adjustment factors and affect previously published seasonally adjusted indexes and percent changes for January 2016 through December 2020; it appears that at least part of the reason for the large jump in January producer prices was due a recalibration of weight allocations used to calculate the overall indexes to more accurately reflect recent sales patterns, which would have thus increased the weighting of commodities and services in greatest demand . . . on an unadjusted basis, producer prices are now 1.7% higher than a year ago, up from the 0.8% year over year increase indicated by last month’s report, while, the core producer price index, which excludes food, energy and trade services, rose by 1.2% for the month, and is now 2.0% higher than in January a year ago, up from the 1.1% year over year increase as was shown in December .