PPI shows inflation is here, and above the targets set by the Federal Reserve

The adjusted PPI for Finished Goods rose 0.8% in November, the USBLS reported today. At the earlier stages of processing, prices received by manufacturers of intermediate goods climbed 1.1% in November, and the crude goods index moved up 0.6%. On an unadjusted basis, prices for finished goods rose 3.5% for the 12 months ended November 2010, their smallest 12-month increase since a 3.1% advance in August.

For the latest month, food prices rose 1.0% after slipping 0.1% in October. The energy component rose another 2.1%, following a 3.7% surge in October. Within energy, gasoline surged 4.7%, following a monthly 9.8% spike in October. The core was boosted in part by a 1.7% increase in passenger car prices after a 3.0% dip in October.


BLS Release


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