by Wolf Richter
Wolf Street
Heading toward the consumer’s wallet.
Prices of goods and services that consumer-facing companies are paying – and that they’re then trying to pass on to consumers – jumped by 1.0% in January from December, seasonally adjusted, and by 1.1% not seasonally adjusted, according to the Producer Price Index for Final Demand, released by the Bureau of Labor Statistics today. Prices for goods jumped 1.3% for the month, and prices for services jumped 0.7%.
These input prices for consumer-facing companies have now bounced back to the top of the range of the red-hot producer-price inflation that began a year ago: