Annual
This dataset tracks annual over time.
Latest Value
79.91
Year-over-Year Change
-28.66%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual Producer Price Index for Crude Oil tracks changes in the wholesale price of domestically produced crude oil in the United States. It serves as an important indicator of inflationary pressures and price dynamics in the energy sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Producer Price Index for Crude Oil is a key metric used by economists and policymakers to understand trends in the cost of raw materials for energy production. It provides insights into the state of the oil industry and broader economic conditions.
Methodology
The data is collected and calculated monthly by the U.S. Bureau of Labor Statistics based on surveys of domestic crude oil producers.
Historical Context
Fluctuations in this index are closely monitored by the Federal Reserve and other institutions for their implications on inflation, consumer prices, and overall economic stability.
Key Facts
- The annual PPI for Crude Oil reached a record high in 2022.
- Oil prices are a key driver of transportation and manufacturing costs.
- Crude oil is a globally traded commodity subject to geopolitical factors.
FAQs
Q: What does this economic trend measure?
A: The Annual Producer Price Index for Crude Oil measures the change in the wholesale price of domestically produced crude oil in the United States.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into inflationary pressures, production costs, and price dynamics in the energy sector, which has broad implications for the broader economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated monthly by the U.S. Bureau of Labor Statistics based on surveys of domestic crude oil producers.
Q: How is this trend used in economic policy?
A: Fluctuations in the Producer Price Index for Crude Oil are closely monitored by the Federal Reserve and other institutions for their implications on inflation, consumer prices, and overall economic stability.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a slight lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Producer Price Index for Crude Oil (POILBREUSDA), retrieved from FRED.