The Producer Price Index for December 2009, released last Wednesday, increased 0.2% from November. Foods alone increased 1.4% from last month.
The index for finished consumer foods rose 1.4 percent in December, its third consecutive monthly increase. Accounting for one-fifth of the December advance, the index for pork climbed 9.4 percent. Higher prices for processed poultry and fresh vegetables (except potatoes) also had a significant impact on the finished consumer foods index.
Crude foods: Prices for crude foodstuffs and feedstuffs rose 3.8 percent in December. This index jumped 12.1 percent in the most recent 3-month period compared with an 8.5-percent decline in the previous 3-month period.
Crude core jumped up 12.7% mainly due to scrap iron and steel.
Medical prices for hospitals, surgery jumped 1.4%.
Recall food commodities are expected to jump for 2010. You might consider buying large bulk on things like rice now.
Most of the increases for the entire year can be attributed to energy costs.
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I'm playing catch up today
This week is a host of important economic indicators, the biggest being GDP on Friday.
Because last week had so much wild news, a host of EIs were not looked at. So to keep the site consistent, I'm going through them now and posting.
Housing data is coming out this week, so I'll do all of those in one shot.