The price of crude materials in the Producer Price Index (PPI) increased by 3.3% in January alone and now stands 21% above where it was just six months ago.
The cot of producing goods fell in December, according to the latest Producer Price Index (PPI) released by the Bureau of Labor Statistics on Wednesday.
FORBES: PPI Shows Easing Pent Up Inflation, Giving Bernanke More Room
U.S. economic data due for release Friday includes the producer price index and the University of Michigan consumer sentiment survey.
U.S. economic data due for release Friday includes the producer price index, the University of Michigan consumer sentiment survey, and the monthly Treasury budget statement.
Prices jumped to a higher-than-expected 1.4% in May and core producer prices, which exclude volatile food and energy prices, increased by 0.2%, according to the U.S. Department of Labor's Bureau of Labor Statistics' Producer Price Index.
The core prices in the producer-price index, which measures the cost of finished goods, rose 0.1%.
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The U.S. Producer Price Index for May was 1.4% ahead of April and 7.2% ahead of the previous May.
Tuesday will feature the September Producer Price Index (PPI) and the October National Association of Home Builders (NAHB) housing market index.
Here might be why: The collapsing cost of digital technologies and Web distribution gets worked into the Producer Price Index and Consumer Price Index.
On Friday, we get the Producer Price Index and the initial reading on consumer sentiment from the University of Michigan.
FORBES: The Week Ahead: Is the Stock Market Right About the Economy?
Wall Street will be looking closely at the U.S. Producer Price Index for December released on Tuesday, and the Consumer Price Index on Wednesday for signs of growing inflationary pressures.
It was first proposed 87 years ago by Irving Fisher, an American economist who believed that policy makers should try to stabilise a broadly defined price index which included asset prices such as shares, bonds and property as well as the prices of producer and consumer goods and services.
ECONOMIST: Should central banks try to target asset-price inflation?
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