US wholesale inflation closes out 2023 with 1% annual rate in December | CNN Business
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US producer prices fell in December for the third consecutive month, bringing a closely watched gauge of wholesale inflation to a rate more in line with pre-pandemic times.

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.

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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.

  • NOT_RICK@lemmy.worldEnglish
    131·
    10 months ago

    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.

    • FlowVoid@lemmy.worldEnglish
      11·
      10 months ago

      Good point.

      The December '22 - December '23 CPI, which more accurately reflects consumer prices, was 3.4%. Not great, not terrible.