Updated: 14-Jan-26 09:30 ET
Highlights
- The Producer Price Index for final demand increased 0.2% month-over-month in November (Briefing.com consensus: 0.2%) following a downwardly revised 0.1% increase (from 0.3%) in October.
- The Index for final demand, excluding food and energy, was unchanged (Briefing.com consensus: 0.2%) following an upwardly revised 0.3% increase (from 0.1%) in October.
- The index for final demand goods rose 0.9%, its biggest jump since February 2024, with over 80% of the increase attributable to the jump in prices for final demand energy.
- The index for final demand services was unchanged after increasing 0.3% in October.
- The index for processed goods for intermediate demand moved up 0.6%, which is the largest increase since July.
- The index for unprocessed goods for intermediate demand rose 0.4%, marking the first increase since July.
- The key takeaway from the report is that PPI and core-PPI both increased on a year-over-year basis to 3.0% from 2.8% and 2.9%, respectively, which is to say they moved in the wrong direction to create a true sense of inflation calm and a seeming rate-cut guarantee.
| Category | NOV | OCT | SEP | AUG | JUL |
| Final Demand | 0.2% | 0.1% | 0.6% | -0.2% | 0.8% |
| Core (excluding ...) | |||||
| Food and Energy | 0.0% | 0.3% | 0.4% | -0.2% | 0.8% |
| Food, Energy, and Trade | 0.2% | 0.7% | 0.2% | 0.3% | 0.7% |
| Final Demand Goods | |||||
| Total | 0.9% | -0.4% | 0.8% | 0.2% | 0.6% |
| Energy | 4.6% | -3.2% | 2.9% | -0.3% | 0.7% |
| Finished Goods | 1.2% | -0.6% | 1.0% | 0.1% | 0.4% |
| Final Demand Services | |||||
| Total | 0.0% | 0.3% | 0.5% | -0.3% | 0.9% |
| Trade | -0.8% | -0.8% | 1.2% | -1.9% | 1.0% |
| Intermediate Demand | |||||
| Processed | 0.6% | -0.3% | 0.3% | 0.4% | 0.8% |
| Unprocessed | 0.4% | -1.4% | 0.0% | -1.7% | 1.6% |
| Services | 0.2% | 0.3% | 0.3% | 0.1% | 0.7% |
