The Producer Price Index for finished goods increased by a seasonally adjusted 0.2% for January, according to a Labor Department report [link opens in PDF] released today. The slight rise failed to meet market expectations of a 0.3% bump, but did reverse the previous three months' declining numbers.
Excluding food and energy prices, the PPI also increased 0.2%. While energy costs dropped 0.4% for January, food costs jumped 0.7% due primarily to a 39% price hike for fresh and dry vegetables.
Looking further up the supply chain, intermediate goods priced in the same as the previous month, while petroleum costs pushed crude goods up 0.8% for the seventh consecutive month-to-month increase.
On a 12-month scale, the PPI bumped up 0.1 percentage points to a 1.4% increase.
The article Veggies Push Producer Prices Higher for January originally appeared on Fool.com.You can follow Justin Loiseau on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.