US PPI rose by 0.1% in January

Wednesday, Feb 17 2016

The Producer Price Index for final demand advanced 0.1% in January, seasonally adjusted, beating forecasts on 0.2% decrease. Final demand prices decreased 0.2% in December and advanced 0.4% in November. On an unadjusted basis, the final demand index declined 0.2% for the 12 months ended in January.

The increase in the final demand index for January can be traced to a 0.5% advance in prices for final demand services. In contrast, the index for final demand goods moved down 0.7%. In January, the index for final demand less foods, energy, and trade services advanced 0.2% for the second consecutive month. For the 12 months ended in January, prices for final demand less foods, energy, and trade services climbed 0.8%.

Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,202,000. This is 0.2% below the revised December rate of 1,204,000, but is 13.5% above the January 2015 estimate of 1,059,000. Single-family authorizations in January were at a rate of 720,000; this is 1.6% below the revised December figure of 732,000. Authorizations of units in buildings with five units or more were at a rate of 442,000 in January.

Privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,099,000. This is 3.8% below the revised December estimate of 1,143,000, but is 1.8% above the January 2015 rate of 1,080,000.

Single-family housing starts in January were at a rate of 731,000; this is 3.9% below the revised December figure of 761,000. The January rate for units in buildings with five units or more was 354,000.

Euro is currently being traded few points above 1.1120 level, Sterling is around 1.4280 handle, while Aussie is around 0.7110 area. Later today, Industrial Production figures are scheduled for a release, as well as FOMC Meeting Minutes.

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