Highlights of the November producer price index report
Prior was +2.5% y/y
- Ex food and energy 2.7% vs 3.0% expected
- Prior ex food and energy 2.6%
- PPI ex food energy and trade 2.8% vs 2.8% prior
Month-over-month readings:
- PPI -0.2% vs -0.1% exp (0.1% prior)
- Ex food and energy -0.1% vs +0.2% exp
- Ex food, energy and trade 0.0% vs +0.2% expected
Inflation is really falling off the radar as a near-term issues. That's in large part due to the drop in energy prices. Expect to hear the Fed to talk a lot more about 'patience' before hiking.
Core m/m inflation is the lowest since December 2017:
