00:00PPI comes in up 1.1 percent, the same as last month. It was expected to fall off a little
00:06bit
00:06to seven tenths of a percent gain. So for year over year, we're at six and a half percent now
00:13for PPI for final demand. The core rate is up four tenths on the month, and that puts it up
00:204.9 percent for the year. And the core X trade is up by 5.1 percent. That's an eight
00:28tenths rise
00:29during the month. And of course, that's the category that includes margins for wholesalers
00:35and retailers. The big issue in April was that we saw a big jump in services prices. And they're
00:43saying this month that it's mostly goods. Eighty percent of the May advance, attributable to a 2.8
00:50percent rise in goods prices. Prices for final demand services only up three tenths of a percent.
00:57So this is probably, and I can check this very quickly, but I'm sure this is basically energy
01:03prices going up. It's, well, this is interesting. Final demand goods up 2 percent, 2.8 percent in May,
01:09the largest increase since the data were first calculated in December of 2009. Eighty percent
01:16traced to a 10 percent, 10.7 percent jump in prices for final demand energy. So a headline that caught
01:23my eye from the ECB was that the war is creating inflation pressures in Europe. It certainly seems
01:29to be doing the same here.
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