US PPI for February 2021
- Prior report
- Final demand MoM 0.5% vs 0.5% est
- Ex Food and energy MoM 02% vs 0.2% estimate
- Ex food and energy, trade MoM 0.2% vs 0.2% est
- Final demand YoY 2.8% vs 2.7% est.
- Ex food and energy YoY 2.5% vs 2.6% est
- Ex food, energy, trade YoY 2.2% vs 2.5% est
- intermediate demand for services, +0.7%, construction +0.3%
- intermediate demand, unprocessed goods +4.3%, excluding food and energy -1.3%
- intermediate demand processed goods +2.7%, excluding food and energy +1.8%
- PPI final demand personal consumption +0.5%
- goods increase 1.4% versus 1.4% in January
- services increased 0.1% versus 1.3% in January
The data is about as expected. In March and April of 2020, the month-to-month changes came in at -0.5% and -1.1%. Those numbers will drop out of the calculation and spike PPI inflation even higher. The market is aware of that and it does not necessarily mean that prices will trickle down into the consumer price index, but we could see numbers close to 4%.
