facebook
twitter
rss
account
search
search
 

Producer price index down in December

Jan. 15, 2013 at 10:02 AM   |   Comments

WASHINGTON, Jan. 15 (UPI) -- U.S. producer prices for finished goods fell for the third consecutive month in December, the Bureau of Labor Statistics reported Tuesday.

On a 12-month unadjusted basis, prices were up 1.3 percent, the fourth lowest figure of 2012 behind May through June, when annual inflation averaged 0.6 percent.

Both food and energy prices received by producers fell in December with food prices off 0.9 percent and energy prices off 0.3 percent, pressured by a 1.7 percent decline in gasoline prices.

The lower index for food indicates that the drought of 2012 has not yet affected pricing.

Core prices, which excludes both energy and food items because of the price volatility of those categories, rose 0.1 percent month-to-month for the second consecutive month.

Core prices are considered a key inflation measure, as they show how much energy prices are seeping into other expenses.

For intermediate goods, prices rose 0.3 percent in December, while prices of crude goods, generally raw materials, rose 2.5 percent.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
U.S. Air Force orders more RQ-4 Global Hawks U.S. Air Force orders more RQ-4 Global Hawks
2
Lockheed tests aircraft laser turret
3
Kurds challenge latest Iraqi oil claims Kurds challenge latest Iraqi oil claims
4
Bad wells, not fracking, spoiling water Bad wells, not fracking, spoiling water
5
Cover Girl ads photoshopped to protest NFL's Roger Goodell Cover Girl ads photoshopped to protest NFL's Roger Goodell
Trending News
Video
x
Feedback