Producer Price Decrease in Q4 While Consumer Prices Remain Flat
CDRPC has updated the Producer Price Index (PPI) and Consumer Price Index (CPI) with the most current and available data. Both PPI and CPI are important indicators that can provide key insights on the economy. From June 2022 to November 2022, PPI has been trending downward while CPI’s aggregate index has remained consistent, with an average value of 296.9. Despite the decrease in PPI costs for consumer items have not seen a similar decrease.
Producer Price Index
Producer Price Index (PPI) had been increasing since April 2020 and peaked at 280.25 in June 2022. Since then, values have been steadily decreasing. In fact, from June 2022 to November 2022, PPI values have declined by approximately 6%. As of November 2022, we are seeing PPI values mirror values seen in April 2022; a value of approximately 263.
Consumer Price Index
Consumer Price Index (CPI) is broken up into eight categories and measures the prices consumers pay for different goods. From June 2022 to November 2022 categories like education and communication, recreation, and apparel and upkeep have remained stable. Whereas categories like food and beverages, housing, and other goods and services have increased slightly. The all items category has increased from 296.3 to 297.7 during this time, reflecting an approximate increase of 0.5%.