Producer Price Index
In November, the Producer Price Index for final demand increased 0.2% on a seasonally adjusted basis, following increases of 0.1% in October and 0.6% in September. The index for final demand rose 3% for the previous 12 months on an unadjusted basis. The increase in prices for final demand in November is due to a 0.9% advance in the index for final demand goods. The prices for final demand services were unchanged. The index for final demand excluding food, energy and trade services increased 0.2%, following a 0.7% increase in October. Over the past 12 months, prices for final demand excluding food, energy and trade services increased 3.5%, the largest 12-month increase since a rise of 3.5% in March. See the full report breakdown here.
U.S. Import & Export Price Indexes
U.S. import prices increased 0.4% in November, resulting in an increase of 0.1% over the past 12-month period. Fuel imports declined 2.5%, resulting in a total decrease of 6.6% over the past 12-month period, the largest year-over-year drop since the index declined 9.8% for the year ending in August. Petroleum imports decreased 8.4% over the past 12 months and natural gas prices increased 51.4% over the same period. Nonfuel import prices increased 0.6% in November, with a 0.7% increase for the year. Among finished goods, capital good prices rose 1.5% for the 12-month period, the largest year increase since March 2023, while automotive vehicle prices fell 1.4% and consumer good prices declined 0.3% for the year.
U.S. export prices increased 0.5% in November as a result of higher prices for agricultural and nonagricultural exports. Export prices increased 3.3% over the past 12 months. Agricultural export prices rose 1.3% in November, with a 2.6% increase for the year. Nonagricultural export prices increased 0.4% in November and increased 3.3% for the year. Prices for finished goods were also up across the board for the year, with capital goods increasing 2.1%, automative vehicles increasing 2.5% and consumer goods increasing 2.4%. View the full report here.
Rig Count Overview & Summary Count
| Area | Last Count | Count | Change From Last Year | Date of Last Year's Count |
| United States | Jan. 23, 2026 | 544 | +1 | Jan. 24, 2025 |
| Canada | Jan. 23, 2026 | 231 | +5 | Jan. 24, 2025 |
| International | December 2025 | 1065 | -8 | December 2024 |
Info courtesy of Baker Hughes
Consumer Price Index
In December, the Consumer Price Index for All Urban Consumers increased 0.3% on a seasonally adjusted basis. Over the past 12 months, the overall index rose 2.7% before seasonal adjustment. The energy index rose 0.3% in December and food prices increased 0.7%. Core inflation (excluding food and energy) increased 0.2% for the month, with gains in categories like recreation, airline fares, medical care and education. Year-over-year inflation rose 2.7%, the same increase as the year ending in November, while energy prices increased 2.3% and food prices increased 3.1%. See the full report here.
Employment Situation
In December, both the total nonfarm payroll employment (+50,000) and the unemployment rate (4.4%) saw little change. Job growth was strongest in food and drink services, health care and social assistance, while retail trade lost jobs.
According to household survey data, both the unemployment rate and number of unemployed individuals (7.1 million), remained relatively unchanged. Unemployment rates by demographic showed little to no change over the month. The number of long-term unemployed showed little change at 1.9 million, representing 26% of all unemployed individuals. Similarly, the labor force participation rate (62.4%) and employment-population ration (59.7%) showed little change. The number of people employed part time for economic reasons saw little change at 5.3 million, while people outside the labor force who wanted a job but were not actively seeking one also saw little change at 6.2 million. The number of marginally attached and discouraged workers showed little movement in December. Read the full breakdown here.
Find previous economic outlook information here.
