3rd Qtr Reports from the Oil Patch; Weekly Stats and RIg Counts

Oil prices rose last week while natural gas prices fell, but pricing for the later was complicated by the Wednesday expiration of the contract for November delivery of gas, meaning that as of Wednesday afternoon the quoted price for natural gas was for the higher priced contract for December delivery.

PPI - Wholesale Inflation Increases 0.8% for June 2013

The June Producer Price Index increased 0.8% for finished goods.  May PPI increased 0.5%, but April dropped -0.7%.  For the year PPI increased 2.5%.  This is the biggest annual increase since March 2012.   Gasoline again is the culprit, with wholesale prices surging 7.2%.  Core PPI, which is finished goods minus food and energy prices, increased 0.2% for the month.

Consumer Price Index Declines 0.3% on Falling Gas Prices for November 2012

The November Consumer Price Index decreased -0.3% from October. CPI measures inflation, or price increases. The culprit is gas prices. The gasoline index declined by -7.4%, the largest decline in gas prices since December 2008. The dramatic drop in gas prices offset inflation in other areas for the month which resulted in a decline not seen since May 2012 Below are CPI's monthly percentage changes.

Industrial Production Increased 0.4% for September 2012

The Federal Reserve's Industrial Production & Capacity Utilization report, G.17, shows a increase of 0.4% in industrial production for September 2012. This report is also known as output for factories and mines. Manufacturing increased 0.2%, mining 0.9% and utilities increased 1.5%. Oil and gas Gulf of Mexico rigs resuming are mentioned in the 0.9% output of mines increase.

PPI Jumps 1.1% Due to High Wholesale Gas Prices in September 2012

In September, Producer Price Index, or wholesale inflation, increased 1.1% for finished goods and is the 2nd month in row for a jump. August PPI increased 1.7%. Gasoline again is the cause, with prices surging 9.8%. Gasoline was the culprit for 80% of the energy index ballooning by 4.7%. Food also increased by 0.2%. Core PPI, which are finished goods minus food and energy prices, had no change for the month.

Consumer Price Index Increases 0.6% for August 2012

The August Consumer Price Index, which measures inflation, increased 0.6% from July. This is the largest monthly increase since June 2009 and the reason for the jump is 80% gasoline prices. The CPI gasoline index increased a whopping 9.0% in a month. When removing food and energy inflation, of which gasoline is a part, core inflation increased 0.1% for August. Below is CPI's monthly percentage change.



CPI is up 1.7% from a year ago, shown in the below graph.


CPI Shows No Change for July 2012, Up 1.4% From A Year Ago

The July Consumer Price Index, which measures inflation, was unchanged from June, the 2nd month in a row. The reason was electricity costs which dropped -1.3%. Gasoline increased 0.3% for July. Removing food and energy, inflation increased 0.1% for the month. Below is CPI's monthly percentage change.


Consumer Price Index had No Change, Core CPI up 0.2% for June 2012

The June Consumer Price Index, which measures inflation, was unchanged from May. The reason was gasoline prices, which dropped again, this time -2.0% from last month and up 1.7% for the year. Cheaper gas offset other increases. Below is the graph for CPI's monthly percentage change.


Retail Sales Decline, -0.5%, Quarterly Sales Decline -0.2%, Not Seen Since Q1 2009

June 2012 Retail Sales decreased, by -0.5%, and this month one cannot blame just falling gas prices. Autos & Parts alone dropped -0.6% while auto dealers, part of Autos & Parts, declined -0.7%. Minus autos & parts, retail sales also decreased, -0.4%. This is the 3rd month in a row retail sales have declined. June Retail sales are up 3.8% from the same time last year.