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Producer Inflation Posts Monthly Acceleration, Slight Annual Deceleration in January

February 15, 2022 by Forex Winner Leave a Comment

Producer Inflation Posts Monthly Acceleration, Slight Annual Deceleration in January

Source: Bureau of Labor Statistics

The annual growth of producer prices posted a slight deceleration in January, but monthly inflation for the month hit the highest in a year.

  • Producer prices grew by 9.7% versus the same month in 2021. This is slightly slower than the 9.8% recorded in both November and December 2020.
  • Compared with the previous month, producer inflation clocked in at 1.0%, faster than the 0.4% recorded in December.
  • The latest monthly inflation reading is the highest since January 2021’s 1.2% and is the same reading seen in April and March last year.
  • Annual core producer inflation came in at 6.9%, slightly slower than the 7.0% in both November and December 2021 but faster than the 1.9% in January last year.
  • Monthly core producer inflation stood at 0.9%, faster than the 0.4% in December 2021 but slower than the 1.0% in January 2021.
  • The major driver in the January increase was hotel outpatient care prices, along with machinery and vehicle wholesaling; apparel, jewelry, footwear, and accessories.
  • Declines were recorded in fuels and lubricants retailing, transportation of passengers, and health care.

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