The latest data from the United States Bureau of Labor Statistics reveals that the Core Producer Price Index (PPI) rose to 2% in January 2024. This indicates a slight uptick compared to the previous month, where the indicator stood at 1.8%.
The Core PPI measures the average change over time in the selling prices received by domestic producers for their output, excluding food and energy. It is an important gauge of inflationary pressures in the economy.
The data, which was updated on 16 February 2024, shows a year-over-year comparison. This means that the current indicator of 2% reflects the change in January 2024 compared to the same month in the previous year. The previous indicator of 1.8% represents the change in December 2023 compared to December 2022.
The rise in the Core PPI suggests that underlying inflationary pressures in the US economy may be picking up. This could have implications for monetary policy decisions and broader economic conditions in the months ahead. Economists and market participants will closely monitor future data releases to assess the trajectory of inflation and its potential impact on the economy.
