BLS Reports Decline in Producer Price Index for Finished GoodsJanuary 24th, 2012 | Category: Industry News
The U.S. Bureau of Labor Statistics reported that the Producer Price Index (PPI) for finished goods declined 0.1 percent in December, seasonally adjusted. Prices for finished goods moved up 0.3 percent in November and fell 0.3 percent in October. At the earlier stages of processing, the index for intermediate goods decreased 0.5 percent in December, and crude goods prices moved down 1.1 percent. On an unadjusted basis, the index for finished goods increased 4.8 percent in 2011 after rising 3.8 percent in 2010.
According to the announcement, the December decline in finished goods prices is attributable to decreases of 0.8 percent in the indexes for finished energy goods and finished consumer foods. By contrast, prices for finished goods less foods and energy increased 0.3 percent. The index for finished energy goods fell 0.8 percent in December after inching up 0.1 percent in November.
The PPI for intermediate materials, supplies, and components fell 0.5 percent in December after rising 0.2 percent in November. Prices for intermediate energy goods moved down 0.3 percent in December after rising 1.9 percent a month earlier.
For crude materials the PPI decreased 1.1 percent in December. For the three months ending in December, prices inched up 0.1 percent following a 1.8-percent rise from June to September. Prices for crude energy materials edged down 0.1 percent.