Undershoots agreement at 0.4%. M/M heading at -0.1 vs 0.3%.
Figure 2: Annualized month-on-month PPI inflation (black), core PPI (tan), and immediate PPI inflation, T=12, a=4 (sky blue), all in %. Source: BLS, and authors estimations.
For a point of view on what the levels of these indices look like, heres Figure 3.
Figure 3: PPI inflation (blue), core PPI (red), products PPI (green), core goods PPI (tan) all in logs, 2021M11=0. Source: BLS, and authors estimations.
Figure 1: Annualized month-on-month PPI inflation (black), core PPI (tan), and core goods PPI (green), all in %. Source: BLS, and authors calculations.
Instant inflation (T=12, a=4) displays the very same down pattern that core does.
This entry was posted on March 15, 2023 by Menzie Chinn.
