Jamie Pentagulio

The BLS released March 2021 PPI today. The all commodities index rose 3.7% the last month and 12.0% the last twelve months. Farm products rose 0.8% from February and increased 16.1% from March 2020. Processed foods and feeds increased 1.1% in the last month and rose 5.1% in the last twelve months. Processed foods and feeds saw a 1.1% increase from February and increased 5.1% from March 2020. Meats, poultry and fish increased 2.9% from last month and saw a 12.4% increase in the last twelve months. Processed poultry increased by 4.4% since February and rose by 12.5% from March 2020. Prepared animal feeds rose 1.1% in the last month and increased 15.0% in the last twelve months.  Fuels and related products & power saw an increase of 11.1% from February and a 33.3% increase since March 2020. Crude petroleum (domestic production) rose 11.0% in the last month and increased 95.7% in the last twelve months. Petroleum products (refined) rose by 15.1% from February and increased 45.4% since March 2020. Chemicals and allied products saw a rise of 5.0% in the last month and rose by 11.0% in the last twelve months. Plastic resins and materials increased 10.4% since February and saw an increase of 25.7% from March 2020. Thermoplastic resins and plastics materials rose 11.7% in the last month and saw 31.1% growth in the last twelve months. Lumber and wood products rose by 4.4% from February and increased 29.0% since March 2020. Lumber saw a 7.4% increase in the last month and an increase of 65.2% in the last twelve months. Plywood increased by 10.5% since February and saw an increase of 57.4% since March 2020. Pulp, paper and allied products increased by 1.1% in the last month and rose 6.0% in the last twelve months. Metals and metal products increased by 5.8% since February and saw an increase of 18.3% from March 2020. Iron and steel rose 13.5% in the last month and increased 36.4% in the last twelve months. Steel mill products increased by 17.6% since February and increased 38.6% from March 2020. Nonferrous metals increased by 2.9% in the last month and saw a 19.2% increase in the last twelve months. Nonferrous mill shapes rose by 3.8% in the last month and increased by 15.7% in the last twelve months. Nonferrous wire and cable rose 3.8% from February and increased 18.6% since March 2020. Fabricated structural metal products saw a 3.3% increase in the last month and a 9.4% rise in the last twelve months. Motor homes (built on purchased chassis) increased 0.1% since February and rose 4.2% from March 2020. Travel trailers and campers rose by 1.7% in the last month and increased 5.8% in the last twelve months. Sporting and athletic goods saw a rise of 0.9% from February and increased 4.1% since March 2020. Tobacco products, including stemmed and re-dried, increased 1.2% in the last month and rose 7.2% in the last twelve months.


BLS PPI Annual Inflation Rate Averages Table for Selected Commodities Through March 2021

 PPI CodeBLS PPI Category Description1M Mar. '21YTD Mar. '211Y Mar. '213Y Mar. '215Y Mar. '2110Y Mar. '2120Y Mar. '21
01FARM PRODUCTS0.8%7.1%16.1%2.9%2.5%0.5%2.7%
011Fruits & melons, fresh/dry vegs. & nuts-7.8%-13.8%-7.4%-2.0%-0.9%-0.2%1.9%
013Slaughter livestock4.6%13.2%13.2%-0.6%-1.8%1.0%2.0%
014Slaughter poultry2.2%2.7%6.6%-3.6%-0.6%1.5%2.8%
015Raw cotton-3.7%11.7%39.4%0.4%7.0%-0.7%2.4%
016Raw milk-2.2%-23.5%-12.9%3.4%1.5%-0.4%0.6%
017Chicken eggs21.7%76.7%10.9%-12.1%5.2%4.0%3.5%
018Hay, hayseeds and oilseeds3.8%20.3%54.3%11.0%9.3%1.5%5.3%
02PROCESSED FOODS AND FEEDS1.1%2.4%5.1%1.9%1.7%1.6%2.4%
021Cereal and bakery products0.8%1.8%1.6%1.3%1.1%1.2%2.5%
022Meats, poultry, and fish2.9%6.3%12.4%2.7%2.0%2.4%2.4%
023Dairy products0.2%-1.9%-2.3%1.4%1.0%1.2%1.8%
024Processed fruits and vegetables0.5%0.7%3.6%2.0%1.9%2.1%2.7%
025Sugar and confectionery0.7%-1.6%-2.7%0.4%0.0%0.6%2.5%
026Beverages and beverage materials0.0%0.2%1.2%1.5%1.1%1.4%1.9%
027Fats and oils3.1%10.5%22.7%4.2%3.8%0.5%5.2%
028Miscellaneous processed foods0.3%0.6%0.9%1.1%1.1%1.6%1.9%
029Prepared animal feeds1.1%5.9%15.0%3.4%4.3%1.5%3.8%
03TEXTILE PRODUCTS AND APPAREL1.3%2.9%3.4%1.4%1.4%1.3%1.2%
031Synthetic fibers2.2%4.0%3.0%1.0%1.9%1.7%0.9%
032Processed yarns and threads1.6%9.3%6.8%1.8%2.1%0.1%1.6%
033Greige fabrics1.4%1.6%1.4%0.3%0.2%0.6%1.0%
034Finished fabrics1.7%3.2%5.5%3.0%1.9%1.9%1.7%
038Apparel & other fabricated textile prods0.3%0.1%0.3%0.7%0.9%1.5%1.0%
039Miscellaneous textile products/services1.8%5.1%8.5%-1.0%0.1%0.1%0.9%
04HIDES, SKINS, LEATHER, AND RELATED PRODUCTS2.4%3.3%11.1%-3.0%-2.0%-1.0%0.5%
041Hides and skins, incl. cattle7.7%7.6%41.3%-8.9%-6.3%-5.2%-1.4%
044Other leather and related products0.1%0.2%0.5%0.9%1.3%2.0%1.5%
05FUELS AND RELATED PRODUCTS AND POWER11.1%22.0%33.3%3.7%7.0%-0.3%2.7%
053Gas fuels37.4%61.4%151.4%16.1%16.2%-2.5%-0.8%
055Utility natural gas2.1%-4.6%14.8%2.0%3.0%0.0%0.4%
056Crude petroleum (domestic production)11.0%35.0%95.7%-0.8%12.6%-3.8%4.3%
057Petroleum products, refined15.1%37.3%45.4%4.4%11.9%-1.2%4.9%
058Asphalt and other petroleum and coal products, n.e.c.3.2%16.5%29.0%4.3%9.4%-1.2%7.4%
06CHEMICALS AND ALLIED PRODUCTS5.0%10.3%11.0%2.6%3.9%2.0%3.6%
061Industrial chemicals10.1%22.0%20.4%2.2%5.5%-0.2%3.9%
062Paints and allied products1.7%2.3%3.6%3.4%3.1%2.2%3.3%
063Drugs and pharmaceuticals0.2%2.2%1.9%2.7%3.6%4.8%4.5%
064Fats and oils, inedible10.5%26.7%45.2%10.9%7.6%-0.9%7.8%
065Agricultural chemicals and chemical products8.0%10.4%16.0%2.0%2.0%0.6%2.7%
066Plastic resins and materials10.4%20.1%25.7%4.4%5.3%2.3%3.3%
067Other chemicals and allied products0.6%1.3%1.5%1.3%1.6%1.7%2.1%
07RUBBER AND PLASTIC PRODUCTS1.7%3.0%3.6%1.5%1.9%1.5%2.3%
071Rubber and rubber products0.2%0.8%0.7%0.6%1.1%0.6%2.2%
072Plastic products2.2%3.7%4.6%1.8%2.1%1.8%2.3%
08LUMBER AND WOOD PRODUCTS4.4%13.8%29.0%8.4%7.1%4.9%3.0%
084Other wood products1.9%4.7%7.2%4.7%3.5%2.9%1.8%
085Logs, bolts, timber, pulpwood, woodchips and other roundwood products1.5%6.3%9.2%1.5%1.8%2.0%1.8%
086Prefabricated wood buildings & components1.6%4.6%10.6%5.0%4.4%3.4%2.8%
087Treated wood and contract wood preserving4.7%12.5%25.5%8.1%6.0%4.8%3.0%
09PULP,PAPER, AND ALLIED PRODUCTS1.1%3.1%6.0%2.0%2.1%1.1%2.0%
091Pulp, paper, and prod., ex. bldg. paper0.9%3.5%5.5%1.2%1.8%0.9%2.0%
092Building paper & building board mill prods.10.5%13.3%65.2%18.1%14.1%8.5%5.5%
094Publications, printed matter & printing material0.3%0.8%1.9%2.3%1.6%1.0%
10METALS AND METAL PRODUCTS5.8%12.4%18.3%5.9%6.5%1.7%3.7%
101Iron and steel13.5%27.8%36.4%8.4%10.6%1.9%4.9%
102Nonferrous metals2.9%8.1%19.2%6.5%7.7%1.1%4.4%
103Metal containers1.1%3.8%4.0%3.1%3.3%1.3%2.4%
105Plumbing fixtures and fittings0.8%1.3%2.0%2.8%2.7%2.3%2.4%
106Heating equipment0.6%2.0%3.4%3.7%3.0%2.7%3.1%
107Fabricated structural metal products3.3%7.4%9.4%4.9%4.3%2.5%3.0%
108Miscellaneous metal products1.0%2.4%3.4%2.6%2.1%1.3%1.8%
11MACHINERY AND EQUIPMENT0.3%0.8%1.1%1.7%1.4%1.1%0.8%
111Agricultural machinery and equipment0.6%1.4%1.9%2.8%2.0%1.8%2.4%
112Construction machinery and equipment0.1%1.3%1.4%3.1%1.9%2.1%2.4%
113Metalworking machinery and equipment0.5%1.5%1.9%1.8%1.6%1.6%1.5%
114General purpose machinery and equipment0.5%1.6%2.8%2.7%2.4%2.4%2.6%
115Electronic computers and computer equipment-0.8%0.4%-1.2%-2.6%-2.2%-3.1%-5.6%
116Special industry machinery and equipment0.0%0.5%1.9%2.0%1.7%1.4%1.4%
117Electrical machinery and equipment0.3%0.4%0.2%1.1%0.9%0.5%0.0%
118Miscellaneous instruments-0.1%0.5%0.7%1.5%1.7%1.7%1.7%
119Miscellaneous machinery0.2%0.4%0.9%1.6%1.1%0.8%1.7%
12FURNITURE AND HOUSEHOLD DURABLES-0.1%0.9%1.9%2.2%2.0%1.7%1.6%
121Household furniture0.3%0.6%2.1%1.9%1.9%1.8%1.9%
122Commercial furniture0.0%2.1%2.3%3.8%2.8%2.2%2.2%
123Floor coverings-0.6%0.7%0.5%0.9%1.2%1.5%2.2%
124Household appliances-0.5%0.4%2.3%2.0%2.0%1.4%0.9%
125Home electronic equipment0.0%0.0%0.2%0.8%0.6%-1.5%
126Other household durable goods0.1%-0.2%1.6%1.4%1.3%1.3%1.3%
13NONMETALIC MINERAL PRODUCTS0.4%2.3%2.3%2.4%2.6%2.7%3.1%
132Concrete ingredients and related products0.0%1.7%3.3%3.5%3.5%3.5%3.7%
133Concrete products0.4%1.2%1.7%2.4%2.9%3.0%3.2%
134Clay construction products ex. refractories0.2%0.5%2.1%1.1%1.2%1.0%1.0%
136Asphalt felts and coatings2.2%2.6%3.8%5.7%3.4%1.6%4.6%
137Gypsum products1.4%4.6%6.6%-0.8%3.5%5.6%3.9%
138Glass containers0.1%2.6%1.9%2.6%2.0%1.8%2.6%
139Other nonmetallic minerals0.2%4.8%1.6%1.7%1.5%2.1%3.1%
14TRANSPORTATION EQUIPMENT0.1%0.5%1.4%1.0%1.0%1.3%1.3%
141Motor vehicles and equipment0.1%0.6%1.5%0.9%0.9%1.1%0.8%
142Aircraft and aircraft equipment0.1%0.4%1.1%1.4%1.2%1.6%2.2%
143Ships and boats0.2%0.2%1.1%1.7%1.5%1.4%2.4%
144Railroad equipment0.5%0.6%0.8%0.7%0.2%1.1%2.1%
149Transportation equipment, n.e.c.0.3%1.4%1.4%1.7%1.9%1.3%1.3%
15MISCELLANEOUS PRODUCTS0.3%1.4%3.3%3.5%2.9%2.5%2.5%
151Toys, sporting goods, small arms, etc.0.3%2.7%3.1%2.4%1.2%1.5%1.3%
152Tobacco products, incl. stemmed & redried1.2%2.5%7.2%6.9%6.2%5.5%4.4%
154Photographic equipment and supplies0.1%1.1%2.2%2.8%1.9%2.5%1.3%
155Mobile homes2.5%6.2%13.9%8.8%6.7%4.9%4.3%
156Medical, surgical & personal aid devices-0.9%-0.2%0.1%1.0%0.9%0.8%1.1%
157Other industrial safety equipment0.0%0.3%2.1%2.6%0.8%1.4%1.6%
159Other miscellaneous products1.1%1.8%3.1%4.1%2.9%1.9%2.0%

BLS PPI vs. CPI Supermarket Inflation Spread Comparison Through March 2021

Inflation Rate PeriodPPI InflationCPI InflationDIFF: PPI vs. CPI
3 Months Ended March '210.84%0.12%0.72%
2 Months Ended Febuary '210.51%0.00%0.51%
1 Month Ended January '210.13%0.17%-0.04%
12 Months Ended December '201.05%1.82%-0.77%
12 Months Ended December '191.29%0.85%0.44%
12 Months Ended December '182.85%0.41%2.44%
12 Months Ended December '172.85%0.47%2.39%
12 Months Ended December '161.32%0.10%1.22%
12 Months Ended December '150.19%0.11%0.08%
12 Months Ended December '145.07%2.46%2.61%
12 Months Ended December '132.04%0.14%1.90%
12 Months Ended December '122.72%1.00%1.71%
12 Months Ended December '115.20%4.07%1.13%
12 Months Ended December '102.92%0.90%2.03%
3 Year Average Ended Dec. '201.73%1.02%0.70%
5 Year Average Ended Dec. '201.87%0.73%1.14%
10 Year Average Ended Dec. '202.50%1.12%1.38%
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