US PPI yy
- Prior was +0.9% y/y (revised to +0.8%)
- PPI m/m +0.3% vs +0.1% expected (prior was -0.2%)
Core:
- PPI ex food and energy y/y +2.0% versus 1.6% expected. Prior month 1.8%
- PPI ex food and energy m/m +0.5% versus +0.1% expected. Prior month -0.1%
- PPI ex food and energy/trade +2.6% y/y versus 2.5% prior
- PPI ex food and energy/trade +0.6% m/m versus 0.2% last month
I flagged the potential for an upside surprise in this report because there seems to be something going on with seasonal adjustments at the BLS in January pricing data. So my inclination is to fade this, but the question is when to pull the trigger on that move?