by Valorie Hanni Rice
Senior Specialist, Business Information
Producer prices were 0.3% lower in December on a seasonally adjusted basis, according to the January 15 release. Final demand goods were down 1.2% for the month, this was mostly attributable to lower gas prices, while final demand services increased by 0.2%. The 12-month change in producer prices was 1.1% on an unadjusted basis.
Initial unemployment claims in Arizona were up 700 for the last week of December to 3,372. While the weekly numbers were higher, the four-week average trended lower, moving to 3,478 from 3,757 the week before. Weekly jobless claims in the U.S. rose the second week of January, as typical of the post-holiday season, moving to a seasonally adjusted 316,000. The four-week average also rose to 298,000. The average has remained below 300,000 since September.
The Consumer Price Index, released January 16, indicated a decline of 0.4% in prices for December on a seasonally adjusted basis, led by a 9.4% drop in the gasoline index. Food increased o.3% while the index for all items less food and energy was flat for the month. The 12-month inflation rate increased 0.8%, the lowest December to December change since 2008.