The newly-revamped January producer prices data are out.
The producer price index rose 0.2% from the previous month in January after gaining 0.1% in December.
Excluding food and energy, prices were up 0.2% after remaining unchanged in December.
Economists predicted both measures would rise 0.1%.
The January numbers represent year-over-year increases of 1.2% and 1.3%, respectively.
Today’s release marks the first change to the index methodology in decades.
“The old index measured goods prices only, capturing about 30% of the economy, while the new one measures goods, services, government purchases, exports and construction, about 75% of the economy,” says FTN Financial chief economist Chris Low.
Given the broader coverage of this indicator and increasing attention on inflation data in general, the new index may become of greater interest to market participants than the old one.
Business Insider Emails & Alerts
Site highlights each day to your inbox.