If you do some digging in the PPI data, you can find a 9.9% increase in the price of crude energy materials in the crude goods section. It will probably take a while for this to be passed along to intermediate and finished goods, but most people are already noticing the change at the pump...
bls.gov
Crude goods
The Producer Price Index for Crude Materials for Further Processing
turned up 3.2 percent in May, seasonally adjusted, after declining 2.5
percent in April. Prices for crude energy materials also rose, after
falling in the prior month. The index for basic industrial materials fell
less than a month ago. By contrast, prices for crude foodstuffs and
feedstuffs fell, after rising in the previous month. (See table B.)
Prices for crude energy materials turned up 9.9 percent in May, after
posting a 6.9-percent drop in April. Leading the way, the index for crude
petroleum gained 21.6 percent, following a 23.7-percent drop in the
previous month. Coal prices rose, after falling in April. On the other
hand, the natural gas index increased 3.1 percent, following an 8.7-percent
advance last month. |
