Weaker-than-expected holiday sales led to deeper discounts from retailers, wholesalers, services businesses, and producers.
Weaker holiday sales likely encouraged retailers, wholesalers, and producers to offer discounts on goods and services, pushing down nominal retail sales figures and the price indexes.
Despite the recent retreat in prices, they are still much higher than a year ago in most categories. Compared with a year ago, the producer price index is up 6.2 percent. Food prices are up 14.2 percent. Energy prices are up 9.1 percent. Excluding food and energy prices, goods prices are up six percent.
Trade services, which measure the change in margins at wholesalers and retailers rather than price changes, were up 0.3 percent and have gained 8.7 percent from a year earlier. Transportation and warehousing prices fell 0.3 percent, the second consecutive monthly decline, putting the year-over-year increase at 10.8 percent. Transportation and warehousing prices have fallen in four out of the last five months.
Prices of goods and services for domestic use, a measure which excludes exports, fell 0.5 percent. Prices of goods produced for export fell 0.9 percent, reflecting a strong dollar and weak global demand. Prices of exported services were flat.
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