The Rice Producer Price Index (PPI) in November rose nearly 10% year-on-year, marking the highest growth ever. The series of conditions that are causing inflationary pressure is expected to continue for some time into 2022.
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Raw material prices have risen sharply this year amid transportation network bottlenecks, strong demand, and labor constraints. Many businesses are passing on those cost increases to consumers in the form of price increases, and recent data suggest that consumer prices will rise further in the coming months.
U.S. consumer price index rises 6.8% year-on-year-highest growth rate in about 40 years (3)
PPI excluding food, energy and trade services rose 0.7% month-on-month. It increased by 6.9% from the same month of the previous year, the highest increase ever. Some economists attach great importance to this indicator as it removes the most volatile elements.
Goods prices rose 1.2% month-on-month in November. Prices of iron, scrap iron, gasoline, fruits, vegetables, etc. have risen widely.
Service prices rose 0.7% month-on-month. The rising costs of investment portfolio management were also reflected.
Intermediate goods rose 1.5% month-on-month. It increased by 26.5% year-on-year, the highest growth since 1974.
See the table for details on statistics.
Original title:U.S. Producer Prices Jump in Biggest Annual Gain on Record(抜粋)
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