Consumer Prices Plateau as Inflation Slows to Prepandemic Levels

[mahatmakanejeeves]

ECONOMY | U.S. ECONOMY

Consumer Prices Plateau as Inflation Slows to Prepandemic Levels

Forty-year inflation high in June turned into relatively normal price growth in second half of 2022

By Danny Dougherty and Nate Rattner
https://twitter.com/DannyDougherty
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https://twitter.com/naterattner
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Jan. 20, 2023 5:30 am ET

After a period of steep inflation, Americans have seen monthly price growth ease, but when will things get back to normal?

The inflation benchmark, measuring price growth over a year, hit a 40-year high in June after months of sustained price increases. Since then, monthly gains have slowed. While December 2022 prices were up 6.5% from a year earlier, a Wall Street Journal analysis of Labor Department data indicates that annual growth has eased to levels that existed before the pandemic. Inflation observed during the past six months would extend to prices rising 1.9% over the course of a year, close to the average annual rate of 1.7% between 2010 and 2020.

{paywall}

[progree]

1. Graphs of PPI, CORE PPI, CPI, CORE CPI. Plus Last 6 months annualized

Last edited Tue Jan 31, 2023, 08:05 PM - Edit history (1)

Last 6 months ANNUALIZED:

CPI: +1.9%
CORE CPI: +4.6% < == this is still high. Last 3 months: 3.2% annualized

PPI: -0.2%
CORE PPI: +2.6%

PPI: (140.206 / 140.361)^(12/6) - 1 = -0.00221 = -0.221%
CORE PPI: (125.989 / 124.406)^(12/6) - 1 = 0.02561 = 2.561%

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CPI - https://data.bls.gov/timeseries/CUSR0000SA0&output_view=pct_1mth
CORE CPI - http://data.bls.gov/timeseries/CUSR0000SA0L1E&output_view=pct_1mth



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{#} Producer Price Index - PPI

Latest PPI summary http://www.bls.gov/news.release/ppi.nr0.htm

Producer prices front page: http://www.bls.gov/ppi/

Producer Price Index (PPI), seasonally adjusted
http://data.bls.gov/timeseries/WPSFD4?output_view=pct_1mth

OLD CORE PPI - Producer Price Index, seasonally adjusted - Final demand goods less foods and energy -
http://data.bls.gov/timeseries/WPSFD413?output_view=pct_1mth

CORE PPI - Producer Price Index, seasonally adjusted - Final demand goods less foods. energy. and trade services -
http://data.bls.gov/timeseries/WPSFD49116?output_view=pct_1mth

More at the Inflation Megapost https://www.democraticunderground.com/10143007428#post2
(has not been updated yet for today's PPI numbers)

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PPI graph:


CORE PPI graph: (PPI less food, energy, and trade services)