Bob Richardson

The Bureau of Labor Statistics (BLS) released November 2019 Producer Price Indexes (PPI) today. The All commodities index increased by 0.3% over the last month & has decreased by 1.6% over the last year on a seasonally unadjusted basis. Dairy products increased by 1.5% over the last month & rose by 7.4% over the last year. Tabacco products increased 1.8% over the last month & rose by 6.2% over the last year. Crude petroleum increased by 10.2% over the last month & rose by 4.9% over the last year. Sugar and confectionery increased by 0.4% over the last month & rose by 3.3% over the last year. Paints and allied products increased by 0.5% over the last month & rose by 3.1% over the last year.

Bureau of Labor Statistics (BLS) Producer Price Indexes (PPI) Historical Annual Inflation Rate Averages for Selected Commodities Through November 2019

 PPI CodeBLS PPI Category Description1 Month Nov. '19YTD Nov. '191 Year Nov. '193 Year Nov. '195 Year Nov. '1910 Year Nov. '1920 Year Nov. '19
01FARM PRODUCTS2.3%-2.8%3.9%3.9%-4.0%1.8%2.6%
011Fruits & melons, fresh/dry vegs. & nuts3.6%-20.1%2.6%6.1%4.5%3.1%3.7%
012Grains-1.2%2.6%6.4%6.8%-0.9%0.5%3.4%
013Slaughter livestock1.0%1.3%2.4%2.7%-8.3%2.9%2.5%
014Slaughter poultry0.7%-6.5%-8.3%-1.7%-6.3%1.6%2.0%
015Raw cotton1.7%-17.3%-13.4%-4.3%-6.0%0.3%1.2%
016Raw milk1.7%20.6%16.9%6.4%-4.6%2.1%1.4%
017Chicken eggs80.5%7.4%6.0%34.1%0.2%2.0%3.5%
018Hay, hayseeds and oilseeds-1.6%0.0%7.6%-0.3%-5.9%0.5%3.4%
02PROCESSED FOODS AND FEEDS0.4%2.5%2.8%1.3%-0.9%1.8%2.4%
021Cereal and bakery products0.2%0.5%0.8%1.7%0.6%1.6%2.5%
022Meats, poultry, and fish0.5%5.9%5.6%0.9%-3.1%2.8%2.4%
023Dairy products1.5%8.1%7.4%2.5%-1.2%2.3%1.9%
024Processed fruits and vegetables-0.3%-0.6%-0.9%1.3%1.4%1.6%2.4%
025Sugar and confectionery0.4%3.0%3.3%1.4%1.2%1.5%2.6%
026Beverages and beverage materials0.1%1.5%1.9%1.5%1.3%1.5%2.0%
027Fats and oils1.2%-4.5%-3.2%-1.6%-2.3%0.5%3.6%
028Miscellaneous processed foods0.3%-1.0%0.9%1.9%0.7%1.3%2.0%
029Prepared animal feeds-0.5%-0.4%0.3%0.6%-3.3%0.9%3.2%
03TEXTILE PRODUCTS AND APPAREL-0.2%-0.3%-0.3%1.6%0.6%1.5%1.1%
031Synthetic fibers-0.9%-1.1%-0.9%3.3%0.8%1.6%1.2%
032Processed yarns and threads-0.5%-4.3%-3.9%1.5%-0.4%1.4%1.3%
033Greige fabrics0.1%-1.9%-1.5%0.6%-0.2%1.1%1.1%
034Finished fabrics-0.1%1.6%1.5%1.7%1.0%1.9%1.4%
038Apparel & other fabricated textile prods0.1%1.3%1.3%1.2%1.1%1.7%1.0%
039Miscellaneous textile products/services-1.0%-8.7%-10.2%-2.3%-2.1%-0.2%0.6%
04HIDES, SKINS, LEATHER, AND RELATED PRODUCTS-0.2%-4.0%-6.0%-5.6%-6.8%0.2%0.5%
041Hides and skins, incl. cattle-1.1%-17.3%-22.4%-16.9%-18.8%-1.5%-1.0%
042Leather0.0%-4.1%-5.8%-8.5%-9.6%-1.9%0.0%
043Footwear0.0%3.1%3.0%1.8%1.9%2.7%1.9%
044Other leather and related products0.0%1.1%1.1%1.5%1.9%1.9%1.5%
05FUELS AND RELATED PRODUCTS AND POWER0.7%-6.3%-5.5%3.8%-5.3%-0.5%3.2%
051Coal-0.3%-1.4%-1.3%1.1%0.3%0.9%4.1%
053Gas fuels17.4%-52.1%-27.0%-6.2%-13.9%-7.3%-0.6%
055Utility natural gas2.5%-19.0%-6.9%0.1%-2.5%-0.9%2.4%
056Crude petroleum (domestic production)10.2%9.0%4.9%10.0%-10.8%-3.0%4.4%
057Petroleum products, refined-1.3%4.5%-8.1%8.5%-8.0%-0.8%5.1%
058Asphalt and other petroleum and coal products, n.e.c.-5.2%-15.8%-21.2%11.0%-5.2%3.2%7.1%
06CHEMICALS AND ALLIED PRODUCTS-0.5%-2.0%-4.1%1.8%0.2%2.0%3.4%
061Industrial chemicals-1.5%-5.8%-12.0%0.8%-3.5%-0.2%3.5%
062Paints and allied products0.5%3.1%3.1%3.4%1.4%2.3%3.4%
063Drugs and pharmaceuticals0.0%2.5%2.5%3.9%5.2%5.1%4.4%
064Fats and oils, inedible1.5%2.7%3.2%-3.3%-5.2%-0.8%3.5%
065Agricultural chemicals and chemical products0.4%-7.1%-6.3%1.5%-2.2%1.6%2.7%
066Plastic resins and materials-0.4%-8.2%-8.7%-0.2%-2.6%1.4%2.6%
067Other chemicals and allied products-0.2%1.0%0.9%1.5%1.3%1.7%2.1%
07RUBBER AND PLASTIC PRODUCTS-0.1%-0.8%-1.0%1.8%0.6%1.7%2.3%
071Rubber and rubber products0.2%0.3%-0.2%1.3%0.0%1.4%2.3%
072Plastic products-0.1%-1.1%-1.2%2.0%0.8%1.8%2.3%
08LUMBER AND WOOD PRODUCTS0.0%-0.8%-1.0%1.8%1.0%2.5%1.3%
081Lumber0.4%-1.4%0.1%1.0%-0.5%3.2%0.7%
082Millwork0.1%0.9%0.8%3.0%2.6%2.6%2.1%
083Plywood-0.1%-8.9%-13.0%1.1%-1.2%1.6%1.0%
084Other wood products-0.3%2.2%2.0%3.5%1.7%2.1%1.5%
085Logs, bolts, timber, pulpwood, woodchips and other roundwood products-0.3%-4.4%-6.0%-0.3%-0.4%2.1%0.7%
086Prefabricated wood buildings & components-0.3%1.4%1.5%3.5%2.8%2.2%2.4%
087Treated wood and contract wood preserving0.0%3.4%4.2%2.2%0.9%2.8%1.5%
09PULP,PAPER, AND ALLIED PRODUCTS-0.2%-2.4%-2.5%1.0%0.5%1.3%1.9%
091Pulp, paper, and prod., ex. bldg. paper-0.3%-4.1%-4.1%0.9%0.2%1.5%1.9%
092Building paper & building board mill prods.-1.8%-4.6%-9.3%-2.4%0.1%2.3%1.6%
094Publications, printed matter & printing material0.0%2.6%2.7%1.8%1.2%0.9%
10METALS AND METAL PRODUCTS-0.1%-4.9%-4.9%3.1%-0.1%1.1%2.7%
101Iron and steel0.0%-16.3%-16.7%2.6%-2.5%0.7%2.9%
102Nonferrous metals0.0%0.8%1.9%4.3%-0.1%1.0%3.4%
103Metal containers-0.3%-0.4%-0.3%3.6%1.5%0.6%2.1%
104Hardware0.1%1.2%1.8%2.1%1.6%1.5%2.0%
105Plumbing fixtures and fittings-1.3%1.9%1.7%2.8%2.0%2.0%2.3%
106Heating equipment-0.1%3.3%3.5%3.4%2.9%2.5%3.1%
107Fabricated structural metal products-0.5%-0.8%-0.9%3.2%1.8%1.9%2.5%
108Miscellaneous metal products0.0%1.1%1.0%2.4%1.0%1.1%1.7%
11MACHINERY AND EQUIPMENT0.0%1.4%1.6%1.6%1.1%0.9%0.7%
111Agricultural machinery and equipment0.1%1.0%1.2%1.8%1.6%1.7%2.3%
112Construction machinery and equipment0.0%2.1%5.2%2.1%1.7%2.0%2.3%
113Metalworking machinery and equipment-0.3%1.3%1.9%1.8%1.4%1.5%1.5%
114General purpose machinery and equipment0.1%2.2%2.2%2.8%2.2%2.2%2.6%
115Electronic computers and computer equipment0.0%-3.7%-4.8%-1.9%-3.1%-3.5%-6.0%
116Special industry machinery and equipment0.1%2.1%2.4%1.8%1.5%1.2%1.4%
117Electrical machinery and equipment0.0%1.1%1.1%1.2%0.6%0.3%-0.1%
118Miscellaneous instruments0.0%1.9%1.9%1.9%1.8%1.6%1.7%
119Miscellaneous machinery0.1%1.6%1.8%1.4%0.8%0.9%1.7%
12FURNITURE AND HOUSEHOLD DURABLES0.1%1.7%2.3%2.3%1.6%1.5%1.5%
121Household furniture0.3%1.8%2.0%2.5%2.0%1.7%1.9%
122Commercial furniture0.2%2.0%2.9%3.2%2.1%1.8%2.0%
123Floor coverings-0.5%-0.2%0.3%1.9%1.4%1.5%2.2%
124Household appliances0.0%2.8%3.7%2.3%1.1%1.2%0.7%
125Home electronic equipment0.0%2.3%2.3%0.6%0.5%0.0%-1.6%
126Other household durable goods-0.1%1.1%1.0%1.2%1.1%1.1%1.3%
13NONMETALIC MINERAL PRODUCTS-0.1%1.6%1.9%2.6%2.6%2.4%3.0%
131Glass0.2%1.5%1.3%1.8%2.7%1.8%1.2%
132Concrete ingredients and related products0.0%3.3%3.4%3.4%3.9%2.9%3.6%
133Concrete products-0.4%2.7%3.4%3.0%3.5%2.6%3.2%
134Clay construction products ex. refractories0.0%1.3%1.5%0.8%1.6%0.6%1.2%
135Refractories-1.0%5.3%5.1%3.6%2.6%2.3%3.5%
136Asphalt felts and coatings1.5%-0.9%0.6%3.8%1.9%1.5%4.6%
137Gypsum products0.0%-4.2%-3.3%2.3%1.7%4.6%1.8%
138Glass containers0.0%2.7%2.7%1.9%1.6%1.6%2.6%
139Other nonmetallic minerals-0.5%0.5%0.3%1.7%0.7%2.1%3.2%
14TRANSPORTATION EQUIPMENT0.2%0.5%0.5%1.0%1.2%1.2%1.3%
141Motor vehicles and equipment0.1%-0.1%0.0%0.8%1.2%1.0%0.7%
142Aircraft and aircraft equipment0.0%1.3%1.5%1.3%1.1%1.7%2.4%
143Ships and boats0.0%3.1%2.8%1.8%1.6%1.6%2.5%
144Railroad equipment0.1%1.3%-0.3%0.4%0.8%1.1%2.1%
149Transportation equipment, n.e.c.0.1%0.6%1.5%2.0%1.6%1.2%1.4%
15MISCELLANEOUS PRODUCTS0.4%4.0%4.0%3.0%2.6%2.5%2.5%
151Toys, sporting goods, small arms, etc.0.0%3.7%2.9%1.4%1.1%1.2%1.1%
152Tobacco products, incl. stemmed & redried1.8%6.1%6.2%5.8%5.9%5.3%4.4%
153Notions0.1%1.1%1.1%1.8%1.3%2.1%2.5%
154Photographic equipment and supplies0.1%7.1%7.1%3.3%1.7%2.3%1.2%
155Mobile homes-0.4%7.8%7.3%5.6%4.2%3.8%3.6%
156Medical, surgical & personal aid devices-0.1%1.4%1.4%1.2%1.0%0.9%1.2%
157Other industrial safety equipment0.0%-0.9%2.5%0.1%1.0%1.2%1.6%
159Other miscellaneous products-0.2%6.0%6.0%3.2%2.3%1.9%1.9%

CPI vs. PPI Supermarket Inflation Comparison Through November 2019

Inflation Rate PeriodCPI InflationPPI InflationDIFF: CPI VS PPI
11 Months Ended November '190.82%1.33%-0.51%
10 Months Ended October '190.99%0.71%0.28%
9 Months Ended September '190.56%0.22%0.33%
8 Months Ended August '190.64%0.29%0.35%
7 Months Ended July '190.60%0.39%0.21%
6 Months Ended June '190.56%0.52%0.04%
5 Months Ended May '190.80%-0.04%0.84%
4 Months Ended April '190.79%-0.04%0.83%
3 Months Ended March '190.80%0.17%0.63%
2 Months Ended February '190.64%-0.19%0.83%
1 Month Ended January '190.49%0.13%0.36%
12 Months Ended December '180.41%2.85%-2.44%
12 Months Ended December '170.47%2.85%-2.39%
12 Months Ended December '160.10%1.32%-1.22%
12 Months Ended December '150.11%0.19%-0.08%
12 Months Ended December '142.46%5.07%-2.61%
12 Months Ended December '130.14%2.04%-1.90%
12 Months Ended December '121.00%2.72%-1.71%
12 Months Ended December '114.07%5.20%-1.13%
12 Months Ended December '100.90%2.92%-2.03%
12 Months Ended December '09-0.59%1.72%-2.30%
3 Year Average Ended Dec. '180.32%2.34%-2.02%
5 Year Average Ended Dec. '180.71%2.46%-1.75%
10 Year Average Ended Dec. '180.91%2.69%-1.78%

Rates are representative of a supermarket’s actual inventory balances, product mix & applicable BLS categories; inflation rates calculated using a supermarket that has the following departments: bakery, beer/wine, dairy, deli, frozen foods, gen. merch., grocery, health & beauty aids, meat, pharmacy, produce & tobacco. PPI inflation calculated uses BLS Table 9 preliminary indexes; CPI inflation calculated uses U.S. City averages for all urban consumers, seasonally unadjusted.

PPI BLS Economic News Release BLS PPI Table 9 Detailed Report BLS PPI Table 11 Detailed Report Good LIFO Candidates