US producer prices fell in December for the third consecutive month, bringing a closely watched gauge of inflation to a rate more in line with pre-pandemic times.
Wholesale inflation as measured by the Producer Price Index rose 1% annually in December, up slightly from November’s revised 0.8% reading, according to data released Friday by the Bureau of Labor Statistics.
…
PPI is a closely watched inflation gauge since it captures average price shifts before they reach consumers and serves as a potential signal for the prices consumers ultimately end up paying.
Oh well thank God the massive hike in food prices while downsizing the packages isn’t hurting the wholesalers too much.
A wholesale price index (WPI) measures change in the overall price of goods before they are sold at retail.
This isn’t measuring what a consumer’s bill will look like at Costco or BJ’s, it’s a measure of how expensive it is for retailers to stock their shelves.
Good point.
The December '22 - December '23 CPI, which more accurately reflects consumer prices, was 3.4%. Not great, not terrible.
The economy is solved! Rejoice everyone! Don’t mind that we still can’t afford basic things, you don’t actually need them!
/s
Real wages increased in 2023.
Well that’s okay, because if you want to pay an annual fee, you can get wholesale food at wholesale quantities near wholesale prices.
You do want a 20-gallon can of beans, don’t you? And who needs fresh produce anyway?
WPI isn’t meant for people who want to buy a 20-gallon can of beans today.
It’s meant for people who want a rough idea of how much a 16 oz can of chili will cost in a couple of months.
