Consumer Price Index: Difference between revisions

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 Past Developments: [[Wages]]
-Over the past 12 months, average hourly earnings have increased by 4.3 percent.
+Over the past 12 months, average hourly earnings have increased by 4.2 percent. In September
-*In August, average hourly earnings for all employees on private nonfarm payrolls rose by 8 cents,or 0.2 percent, to $33.82.<ref>https://www.bls.gov/news.release/empsit.nr0.htm</ref>
+*In September, average hourly earnings for all employees on private nonfarm payrolls rose by 7 cents, or 0.2 percent, to $33.88.
-*In August, average hourly earnings of private-sector production and nonsupervisory employees rose by 6 cents, or 0.2 percent, to $29.00.
+*Average hourly earnings of private-sector production and nonsupervisory employees rose by 6 cents, or 0.2 percent, to $29.06
 ===2. Supply chain issues===
 Past developments: [[Supply Chain Developments]]
-The GSCPI in August remained virtually unchanged at -0.86.
+The GSCPI rose to -0.69 in September, up from -1.08 in August (revised down from an initial reading of -0.86). <ref name=":2">https://www.newyorkfed.org/research/policy/gscpi#/interactive</ref>
 ===3. PPI===
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 The PPI serves as a leading indicator for the CPI, so when producers face input inflation, the increases in their production costs are passed on to retailers and consumers
-*The producer price index(PPI) rose 0.3% in July, slightly above the 0.2% estimate<ref>https://www.bloomberg.com/news/articles/2023-08-11/us-producer-prices-rise-more-than-expected-on-services-strength</ref>.
+*August producer price index(PPI) rose 0.7% from a month earlier<ref>https://www.bls.gov/news.release/pdf/ppi.pdf</ref>, exceeding estimate for a 0.4% increase<ref>https://www.bloomberg.com/news/articles/2023-09-14/us-producer-prices-rise-most-in-more-than-a-year-on-energy-costs</ref>.
-*Yearly, PPI rose 0.8%, also slightly above the 0.7% estimate.
+*Yearly, PPI rose 1.6%, also exceeding estimate for a 1.2% rise.
-*Core PPI was up 0.3% versus 0.2% estimate.
+*Core PPI increased 0.2%, in-line with the estimate.
-*Yearly, core PPI was up 2.4% versus 2.3% estimate.
+*Year-over-year, core PPI rose 2.2%, also in-line with the estimate.
-* The increase in PPI was mainly attributed to services, which rose 0.5% for the month, the largest increase since August 2022.
+* The increase in PPI was mainly attributed to energy prices which rose 10.5% in August(July:+0.8%).
+*The prices for final demand goods rose 2% on the month while services prices rose 0.2%.
 ===4. Housing Market===
 Past Developments: [[Housing Market: US#Price Developments|Housing Market: US]]
 Important to consider that shelter CPI has a big lag (6-12 months) between current market prices and the correspondent reflection in CPI.
-*Before seasonal adjustment, the U.S. '''National Index posted a 0.9% month-over-month increase in June''', while the 10-City and 20-City Composites also posted like increases of 0.9%. After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 0.7%, while the 10-City and 20-City Composites both posted increases of 0.9%.
+*'''Before seasonal adjustment, the U.S. National Index,10-City and 20-City Composites, all posted a 0.6% month-over-month increase in July.''' After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 0.6%, while the 10-City posted a  0.8% increase and 20-City Composite a 0.9% increase.
-*The S&P CoreLogic Case-Shiller U.S. '''National Home Price NSA Index, covering all nine U.S. census divisions, reported 0.0% annual change in June, up from a loss of -0.4% in the previous mont'''h. The 10- City Composite showed a decrease of -0.5%, which is an improvement on the -1.1% decrease in the previous month. The 20-City Composite posted a year-over-year loss of -1.2%, up from -1.7% in the previous month.
+*The S&P CoreLogic Case-Shiller '''U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported 1.0% annual change in July, up from a 0% change in the previous month.''' The 10-City Composite showed an increase of 0.9%, which improves from a -0.5% loss in the previous month. The 20-City Composite posted a year-over-year increase of 0.1%, improving from a loss of -1.2% in the previous month.
-*Rents are down 0.1% month-over-month, 1.2% year-over-year
+*For this month, 8 of 20 cities reported lower prices and 12 of 20 reported higher prices in the year ending July 2023 versus the year ending June 2023. 18 out of the 20 cities, show a positive trend in price acceleration compared to their prior month.
 === 5. Food Prices ===
 Past Developments: [[Food Market]]