Wholesale prices were flat in November after a large decline in October, the Bureau of Labor Statistics reported.
The producer price index (PPI), a measure of the prices that companies get for finished goods in the marketplace, was unchanged after a 0.4% decrease in October. Year-over-year, the PPI rose 0.9%. PPI peaked at an 11.5% year-over-year gain in March 2022.
Goods inputs fell from the previous month in two of the four supply-chain stages.
Stage 4 goods inputs, measuring the products purchased by industries primarily producing output sold to final demand, such as RV manufacturers, rose 0.1% in November after a 0.4% decline in October. Overall, Stage 4 intermediate demand rose 1.5% year-over-year, down slightly from the 1.9% year-over-year increase in October.
Goods inputs for Stage 3 intermediate demand, measuring suppliers to Stage 4 producers such as RV manufacturers, fell 0.6% in November after a revised 1.9% decline in October. Overall, year-over-year Stage 3 demand fell 3.7% year-over-year, the ninth consecutive year-over-year decline.
Goods inputs for Stage 2 intermediate demand, measuring suppliers to Stage 3 suppliers, fell 1.4% in November after a revised 1% decline in October. November’s decline is the largest monthly decline since June. Overall, Stage 2 intermediate demand dropped declined 2.4% year-over-year.
Finally, goods inputs for Stage 1 demand rose 0.1% in November after a revised 0.8% decline in October. Overall, demand declined 1.5% year-over-year, the eighth consecutive year-over-year decline.
