Producer prices for final demand in the US increased 0.7% month-over-month in January of 2023, the most in seven months and higher than market forecasts of 0.4%. Goods prices jumped 1.2%, also the largest increase since rising 2.1% in June 2022, led by a 6.2% surge in gasoline cost. The indexes for residential natural gas, diesel fuel, jet fuel, soft drinks, and motor vehicles also moved higher. Conversely, prices for fresh and dry vegetables decreased 33.5%. The indexes for residual fuels and for basic organic chemicals also declined. Meanwhile, services cost edged 0.4% higher, mainly hospital outpatient care (1.4%). The indexes for automobiles and automobile parts retailing; health, beauty, and optical goods retailing; portfolio management; chemicals and allied products wholesaling; and airline passenger services also moved higher. In contrast, margins for fuels and lubricants retailing fell 17.5%. source: U.S. Bureau of Labor Statistics
https://tradingeconomics.com/united-states/producer-price-inflation-mom
Potentially concerning jump in good prices as that is where disinflationary pressure was expected to be coming from. However perhaps understandable in light of gasoline prices
YoY still showing clear downtrend:
https://tradingeconomics.com/united-states/producer-prices-change
Core producer prices will be out on 24.02
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