Industrial production increased 0.4% in December.  The topline PPI fell 0.1% while the core PPI increased 0.3%.  The topline CPI was unchanged while the core CPI rose 0.1%.  Existing home sales rose 5.0% in December as housing starts fell 4.1% and building permits were essentially unchanged.  Initial jobless claims fell 50,000 to a level of 352,000 for the week ended 1/14.

• Industrial production rose 0.4% in December
• The topline producer price index declined 0.1% in December while the core PPI increased 0.3%. 
• The topline consumer price index was unchanged in December while the core CPI edged up 0.1%. 
• Existing home sales increased 5.0% to an annual pace of 4.61 million units in December. This marks an 11-month high in existing sales and the number of properties on the market fell to the lowest level since 2004.  The median home price of $162,500 was 2.5% below the level from last December.
• Housing starts declined more than expected, falling 4.1% to an annual pace of 657,000 units in December.
• Building permits were essentially unchanged (-0.1%) at an annual pace of 679,000 units in December.
• Initial jobless claims plunged 50,000 to 352,000 for the week ended January 14^th.