THE BASIS POINT

Core Wholesale Inflation +0.1%.

 

PPI-FD (May 2015)

 

– PPI-FD month/month  +0.5%. Previous was -0.4%
– PPI-FD year/year   -1.1%. Previous was -1.3%
– PPI-FD less food & energy month/month +0.1%. Previous was -0.2%
– PPI-FD less food & energy year/year    +0.6%. Previous was + 0.8%
– PPI-FD less food, energy & trade services month/month    -0.1%. Previous was +0.1%
– PPI-FD less food, energy & trade services year/year     +0.6%. Previous was +0.7%
– PPI-FD Goods month/month    +1.3%. Previous was -0.7%
– PPI-FD Goods year/year     -4.3%. Previous was -5.5%
– PPI-FD Services month/month  +0.0%. Previous was-0.1%
– PPI-FD Services year/year   +0.6%. Previous was +0.9%.

While overall inflation (that which matters to the consumer) is up the largest components of the rise are from  the volatile prices of food and gasoline which tend not to persist.  Core PPI (less food and energy) was +0.1% for the month – hardly reason to panic.

 

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