The Bureau of Labor Statistics (BLS) released the Producer Price Index (PPI) today, the primary measure of inflation for manufacturers and producers. The PPI is different from the Consumer Price Index (CPI) in that it measures costs from the viewpoint of industries that make the products, whereas the CPI measures prices from the perspective of consumers purchasing final goods. The overall PPI was up 0.8 percent in November, which brings the 12-month increase from November 2020 through last month, to 9.6 percent. That’s the largest increase since 12-month data were first calculated in November 2010. The commodity price index grew faster than the all manufacturing index, mostly driven by energy prices.
In November, nearly two-thirds...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
