Wholesale prices rose 1.1% in May, more than expected, on surge in energy

[progree]

1. GRAPHS and TABLE - what stands out is the Core PPI is very high too

I'll add more info later after I read the news summary at
https://www.bls.gov/news.release/ppi.nr0.htm

PPI data series (yes, it has food & energy included in it) :
http://data.bls.gov/timeseries/WPSFD4

Core PPI data series (without food nor energy nor trade services) :
http://data.bls.gov/timeseries/WPSFD49116

This is the "Core" that the BLS highlights, since they want an underlying trend without the volatile month-to-month components, as a better predictor of FUTURE inflation. Trade services is very volatile, for example trade services INCREASED 1.3% in April, and DECREASED 1.1% in May. From Table A in https://www.bls.gov/news.release/ppi.nr0.htm

As always, I prefer to show everything annualized so as to compare to the Fed's 2% goal and to each other.

Numbers are calculated from the actual 6-digit index values, not from grinding together heavily-rounded numbers. For the PPI, typically they update the 4 previous index values as well as adding the new one for the latest month. I update all of that too in my spreadsheet.

Regular PPI (includes food & energy & trade services)
Red line indicates the Federal Reserve's 2.0% inflation target


CORE PPI (EXcludes food & energy & trade services)
Red line indicates the Federal Reserve's 2.0% inflation target



Percent increases over the past month, over the past 3 months, and over the past 12 months, seasonally adjusted numbers, ANNUALIZED
1 mo `3 mo `12mo
----- ----- -----
13.4% 12.1% 6.4% Regular PPI (includes food & energy)
10.7% `6.5% 5.1% Core PPI (does not have food nor energy nor trade services)

2.0% 2.0% 2.0% Federal Reserve Target

backquote symbols (`) added for spacing. Please try to ignore them