Sectoral Output Price Deflator for Wholesale Trade: Petroleum and Petroleum Products Merchant Wholesalers (NAICS 4247) in the United States
IPUGN4247T050000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
153.16
Year-over-Year Change
-15.35%
Date Range
1/1/1987 - 1/1/2024
Summary
The Sectoral Output Price Deflator for Wholesale Trade: Petroleum and Petroleum Products Merchant Wholesalers (NAICS 4247) measures price changes for wholesale petroleum and petroleum products. This metric is a key indicator of inflation pressures and market conditions in the energy supply chain.
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
This economic series tracks the output prices received by petroleum and petroleum products merchant wholesalers. It serves as an important gauge of inflationary trends and market dynamics within the wholesale energy sector, providing insights for policymakers, analysts, and businesses.
Methodology
The data is collected through a monthly survey of wholesale trade businesses by the U.S. Census Bureau.
Historical Context
Economists and policymakers monitor this price deflator to assess the state of the energy supply chain and its potential impact on broader economic conditions.
Key Facts
- The base year for this index is 2012 = 100.
- Wholesale trade accounts for over 5% of U.S. GDP.
- Petroleum and petroleum products are a major component of the wholesale trade sector.
FAQs
Q: What does this economic trend measure?
A: This series measures the output prices received by wholesale trade businesses in the petroleum and petroleum products industry (NAICS 4247).
Q: Why is this trend relevant for users or analysts?
A: This price deflator is an important indicator of inflationary pressures and market dynamics within the energy supply chain, providing insights for policymakers, economists, and businesses.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of wholesale trade businesses by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this price deflator to assess the state of the energy supply chain and its potential impact on broader economic conditions.
Q: Are there update delays or limitations?
A: There may be occasional delays in data reporting, and the series may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Sectoral Output Price Deflator for Wholesale Trade: Petroleum and Petroleum Products Merchant Wholesalers (NAICS 4247) in the United States (IPUGN4247T050000000), retrieved from FRED.