The Old Pervert left you his legacy (aside from the stains in his diapers):
As has been the case for many months, today’s Producer Price Index for January included big up-revisions of the prior month, driven by a whopper up-revision for services which account for two-thirds of the overall PPI. On top of these upwardly revised December figures, the PPI rose further in January.
In January, the overall PPI accelerated to an increase of 3.51% year-over-year, the worst increase since February 2023, following a persistent zigzag line higher from the low point of near 0% in June 2023, driven largely by the services PPI.
And December was revised up to an increase of 3.48%, from 3.31% as reported a month ago. This up-revision was powered by a massive up-revision in services....
The PPI is, roughly, prices paid by the people from whom you buy YOUR stuff.
So like it or not, you're getting hammered in the next few months--again.
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