The Producer Price Index for final demand in the US rose 0.2% month-over-month in October of 2022, the same as a downwardly revised 0.2% increase in September and below market forecasts of 0.4%. Goods cost went up 0.6%, the largest advance since a 2.2% rise in June, mainly pushed by a 5.7% jump in gasoline cost. Prices for diesel fuel, fresh and dry vegetables, residential electric power, chicken eggs, and oil field and gas field machinery also advanced. In contrast, the index for passenger cars declined 1.5%. Meanwhile, services cost fell 0.1%, the first decline since November of 2020. Prices for fuels and lubricants retailing were down 7.7% and prices also moved lower for portfolio management, long-distance motor carrying, automobile retailing, and professional and commercial equipment wholesaling. In contrast, cost for hospital inpatient care increased 0.8%. Compared to the same month in 2021, producer prices were up 8%, the smallest increase since July last year. source: U.S. Bureau of Labor Statistics
Producer Price Inflation MoM in the United States averaged 0.22 percent from 2009 until 2022, reaching an all time high of 1.70 percent in March of 2022 and a record low of -1.30 percent in April of 2020. This page includes a chart with historical data for the United States Producer Price Inflation MoM. United States Producer Price Inflation MoM - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.
Producer Price Inflation MoM in the United States is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Producer Price Inflation MoM is projected to trend around 0.20 percent in 2023, according to our econometric models.