Producer Price Index (PPI)

Macroeconomics and Politics
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21

I=6
Headline PPI rose 0.2% in December, less than 0.4% estimate

  • Core PPI was flat in December versus 0.3% forecast and 0.2% growth in November.
  • On a yearly basis, core PPI rose 3.5%, below 3.8% estimate and unchanged from the previous month (revised upwards from 3.4%).
  • Headline PPI rose 0.2% during the month versus expectations to stay unchanged at 0.4%.
  • On a yearly basis, PPI was up 3.3%, lower than 3.5% estimate but above 3.0% in November.
  • S&P 500 futures and Nasdaq 100 futures gained 0.5% each while Dow Jones futures rose 0.4% following the report.

https://www.bls.gov/news.release/archives/ppi_01142025.pdf

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22

I=6
Headline PPI rose 0.4% in January, higher than 0.3% estimate

  • Core PPI rose 0.3% in January, in line with the forecast and down from 0.4% in December (revised up from 0.0%).
  • On a yearly basis, core PPI was up 3.6%, below 3.3% forecast and down from 3.7% in December (revised up from 3.5%).
  • Headline PPI was up 0.4% on the month, higher than 0.3% estimate but down from 0.5% in December (revised up from
    0.2%)
  • On a yearly basis, headline PPI rose 3.5%, above 3.2% estimate and unchanged from December (revised up from 3.3%).
  • PPI growth was driven by services as usual.

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https://www.bls.gov/news.release/archives/ppi_02132025.pdf

23

I=7
Producer price index was flat in February, below 0.3% estimate

  • Headline PPI was flat during the month of February, below 0.3% forecast and down from 0.6% (revised upwards from 0.3%) in January.
  • Core PPI fell 0.1%, against expectations for a 0.3% increase and below 0.5% growth (revised upwards from 0.3%) in January.
  • On a yearly basis, headline PPI rose 3.2%, below 3.3% estimate and 3.7% growth (revised upwards from 3.5%) in January.
  • Core PPI was up 3.4% on a yearly basis, lower than 3.6% forecast and down from 3.8% in the previous month (revised upwards from 3.6%).
  • The flat growth was driven by a 0.2% drop in service costs which offsetted a 0.3% increase in goods.

https://www.bls.gov/news.release/archives/ppi_03132025.pdf

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24

I=7
S&P 500 futures sheds 0.4% after PPI rose 0.9% in July, exceeding 0.2% estimate

  • Headline PPI and core PPI rose 0.9% in July (highest reading in more than 3 years), above 0.2% estimate.
  • On a yearly basis, PPI was up 3.3%, above 2.5% estimate and 2.4% in June (revised upwards from 2.3%).
  • Core PPI rose 3.7% y/y, above 2.9% estimate and 2.6% in June.
  • S&P 500 and Nasdaq 100 future shed 0.4% following the report.
  • The increase was driven by service costs which rose 1.1%, the most since March 2022.
  • The report indicates that companies are starting to adjust prices to reflect the higher US tariffs.

https://www.bls.gov/news.release/archives/ppi_08142025.pdf

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25

I=7
Stock futures rose more than 0.5% after PPI fell 0.1% in August, compared with expectations for a 0.3% increase

  • Headline and core PPI fell 0.1% in August against 0.3% forecast and below 0.7% growth in July (revised downwards from 0.9%).

  • On a yearly basis, headline PPI was up 2.6% y/y, below 3.3% forecast and 3.1% in July (revised downwards from 3.3%).

  • On a yearly basis, core PPI rose 2.8% y/y, below 3.5% forecast and 3.4% in July (revised downwards from 3.7%).

  • S&P 500 futures rose0.5% while Nasdaq 100 futures gained 0.6% after the release.

  • The report suggests that companies are avoiding outsize price increases despite Trump’s tariffs.

  • Services prices fell 0.2%.

    https://www.bls.gov/news.release/archives/ppi_09102025.pdf

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