Industrial Product Price Index (IPPI):
- Prior month 0.3%
- PPI (industrial product prices) MoM 0.7% versus 0.3% expected.
- Producer prices YoY 2.6% vs 1.7% last month. This was the 10th consecutive increase
Details of the IPPI:
Largest upward contributor: unwrought gold, silver, and platinum group metals (+33.7%) — driven by safe-haven demand
Other notable increases:
Fresh and frozen beef and veal +16.5%
Softwood lumber +12.0%
Downward contributors:
Finished motor gasoline -10.9%
Oilseed cake and meal -33.2%
Motor vehicle gasoline engines and parts -12.1%
Raw Material Price Index (RMPI):
- Raw material prices MoM 0.3% vs 2.7% last month. Excluding energy products, the RMPI rose 0.4%
- Raw material Prices YoY 0.8% versus 1.1% last month. If you exclude crude energy products, the RMPI posted a 12.6% year-over-year rise.
Details of the YoY:
Excluding crude energy products: RMPI surged +12.6% YoY
Key upward contributors:
Gold, silver, and platinum group metal ores and concentrates +30.9%
Cattle and calves +17.1% (driven by short domestic supply)
Hogs +18.1% (supported by strong demand)
Key downward contributors:
Conventional crude oil -18.0%
Synthetic crude oil -15.2% (both moderated overall RMPI increase)
