How the IPIC Method Could Maximize Your LIFO Reserve
What is the IPIC Method? Dollar-value LIFO method users are allowed to use an internal or external inflation measurement source to calculate inflation. Here’s an overview of these two methods: Internal indexes Current period’s quantities are double extended against current & prior period unit costs (prior period unit costs are used if the link-chain method […]
View full articleSeptember 2023 CPI Release Highlights
The Bureau of Labor Statistics (BLS) released September 2023 Consumer Price Index (CPI) today. Highlights are as follows (all indexes are on a seasonally unadjusted basis): All items increased 0.2% in the last month and rose 3.7% in the last twelve months Food at home increased 0.1% from August and increased 2.4% since September 2022 […]
View full articleThe LIFOPro Difference
Our Clients Stay on LIFO Far Longer than Non-clients An internally developed study of publicly traded companies found that LIFOPro clients are far more likely to remain on LIFO than non-clients. More specifically, as of the 2011 year-end, there were 318 publicly traded companies on LIFO. Of the 318 companies were on LIFO as of […]
View full articleSeptember 2023 PPI Release Highlights
The Bureau of Labor Statistics (BLS) released September Producer Price Indexes (PPI) today. Highlights are as follows (all indexes on a seasonally unadjusted basis): Farm products rose 0.3% in the last month and decreased 10.8% in the last twelve months Processed foods + feeds increased 0.9% from August and rose 0.6% since September 2022 Textile […]
View full articleRecord Number of Companies Electing LIFO
What has Caused the Surge in First-time LIFO Elections? LIFOPro has seen a nearly 40% increase in first-time LIFO elections amongst new clients between 2021 – 2022. The primary cause of this record number of companies electing LIFO has been the highest inflation seen in 40 years over the last two years, which translated into […]
View full articleAugust 2023 PPI Release Highlights
The Bureau of Labor Statistics (BLS) released August Producer Price Indexes (PPI) today. Highlights are as follows (all indexes on a seasonally unadjusted basis): Farm products decreased 4.3% in the last month and decreased 11.8% in the last twelve months Processed foods + feeds increased 0.2% from July and fell 0.8% since August 2022 Textile […]
View full articleAugust 2023 CPI Release Highlights
The Bureau of Labor Statistics (BLS) released August 2023 Consumer Price Index (CPI) today. Highlights are as follows (all indexes are on a seasonally unadjusted basis): All items increased 0.4% in the last month and rose 3.7% in the last twelve months Food at home increased 0.2% from July and increased 4.3% since August 2022 […]
View full articleJuly 2023 PPI Release Highlights
The Bureau of Labor Statistics (BLS) released July Producer Price Indexes (PPI) today. Highlights are as follows (all indexes on a seasonally unadjusted basis): Farm products decreased 2.9% in the last month and decreased 10.4% in the last twelve months Processed foods + feeds increased 0.3% from June and fell 0.2% since July 2022 Textile […]
View full articleJuly 2023 CPI Release Highlights
The Bureau of Labor Statistics (BLS) released July 2023 Consumer Price Index (CPI) today. Highlights are as follows (all indexes are on a seasonally unadjusted basis): All items increased 1.0% in the last month and rose 2.8% in the last twelve months Food at home increased 0.4% from June and increased 3.6% since July 2022 […]
View full articleJune 2023 PPI Release Highlights
The Bureau of Labor Statistics (BLS) released June Producer Price Indexes (PPI) today. Highlights are as follows (all indexes on a seasonally unadjusted basis): Farm products decreased 4.4% in the last month and decreased 10.2% in the last twelve months Processed foods + feeds decreased 1.1 % from May and fell 0.9% since June 2022 […]
View full articleJune 2023 CPI Release Highlights
The Bureau of Labor Statistics (BLS) released June 2023 Consumer Price Index (CPI) today. Highlights are as follows (all indexes are on a seasonally unadjusted basis): All items increased 0.1% in the last month and rose 2.0% in the last twelve months Food at home decreased 0.1% from May and increased 10.1% since June 2022 […]
View full articleMay 2023 PPI Release Highlights
The Bureau of Labor Statistics (BLS) released May Producer Price Indexes (PPI) today. Highlights are as follows (all indexes on a seasonally unadjusted basis): Farm products increased 0.2% in the last month and decreased 7.0% in the last twelve months Processed foods + feeds rose 1.0% from April and increased 1.4% since May 2022 Textile […]
View full article