After CPI’s rise last week (which was somehow briefly seen as ‘good’ news because it was lower than a wild whisper number), Producer Prices tore up the narrative this morning printing a record breaking 9.6% YoY rise (smashing expectations of +9.2% and well above the +8.6% YoY print for October)…. Source: Bloomberg
Worse still, core PPI surged: Ex-food and energy +7.7% YoY vs +7.2% exp and +6.8% prior
Ex-food, energy, and trade +6.9% YoY vs +6.3% prior Both Goods and Services prices rose with Energy and Transportation costs the biggest drivers. Within final demand goods in […]
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