Consumer Price Index: Difference between revisions

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 Past developments: [[Supply Chain Developments]]
-Global supply chain conditions have largely normalized, this trend will continue to contribute to disinflation in the goods sectors, however the contribution will start to be more limited, after supply chain normalized more and more.<ref name=":22">https://www.newyorkfed.org/research/policy/gscpi#/interactive</ref>
+The report said supply chain pressures were below average in all regions of the world considered in the index.
+*The GSCPI decreased again in May, falling to -1.71 from -1.35; the April value was revised downward from -1.32. GSCPI readings measure standard deviations from the index’s historical average.
-* Global supply chain pressures decreased again in April, falling to 1.32 standard deviations below the index’s historical average. The March value was revised downward from 1.06 to 1.15 standard deviations below the index’s historical average.<ref>https://www.newyorkfed.org/research/policy/gscpi#/interactive</ref>
+*There were significant downward contributions from Great Britain backlogs and Taiwan delivery times. Euro Area delivery times and backlogs exhibited the largest sources of upward pressure in May.<ref>https://www.newyorkfed.org/research/policy/gscpi#/interactive</ref>
-* There were significant downward contributions from Euro Area delivery times, Euro Area stocks of purchases, and Korean delivery times. While the overall index declined, there was a notable upward contribution from Taiwan stocks of purchases
 ===3. PPI===
 Past Developments: [[Producer Price Index]]
-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 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 U.S producer price index(PPI) dropped 0.5% month-over-month in March compared to expectations for prices to be flat<ref>https://www.cnbc.com/2023/04/12/stock-market-today-live-updates.html</ref>.
+* The producer price index increased 0.2% in April, below 0.3% estimate.
-* Core PPI declined 0.1% month-over-month, way better than the 0.2% expected increase.
+* Core PPI also increased 0.2% , in-line with estimates.
-* Year-over-year, PPI rose 2.7% in March versus 4.9% year-over-year increase in February.
+* Yearly, headline PPI rose 2.3%, below the 2.4% estimate and 2.7% growth in March.
-*The decline in PPI was mainly attributed to the 1% drop in the prices of final demand goods<ref>https://www.bls.gov/news.release/pdf/ppi.pdf</ref>.
+*80% of the rise in PPI was attributed to the 0.3% rise in prices for final demand services<ref>https://www.cnbc.com/2023/05/11/wholesale-prices-rose-just-0point2percent-in-april-less-than-estimate-as-inflation-pressures-ease.html</ref>.
 ===4. Housing Market===
 Past Developments: [[Housing Market: US#Price Developments|Housing Market: US]]