
BREAKING: The Producer Price Index for final demand fell 0.1 percent in December. Prices for final demand goods decreased 0.4 percent, while the index for final demand services remained unchanged. Prices for final demand rose 1.0 percent in 2023.
the staff of the Ridgewood blog
Ridgewood NJ, once again, housing costs played a significant role in the most recent inflation report, but there are some optimistic indicators in the latest data, according to experts. The Consumer Price Index (CPI) for December revealed a slight uptick in prices at 0.3% compared to the previous month, an improvement from the 0.2% increase observed in November. On an annual basis, prices experienced a 3.4% rise, up from the 3.1% annual increase reported in the preceding month. Concurrently, the shelter component of the CPI showed a 0.5% increase in December from the previous month, surpassing November’s 0.4% monthly gain. Housing costs emerged as the primary contributor to the monthly index increase for all items excluding food and energy, with the Bureau of Labor Statistics noting that they accounted for “over half of the monthly all items increase.”
Continue reading UPDATE: Housing Costs Largest Factor in the Latest CPI Rise