US PPI yy
- Prior was +1.3% y/y
- PPI final demand YoY 0.9% versus 1.0% expected
- PPI final demand MoM 0.0% versus +0.1% expected
- PPI ex food and energy YoY 2.0% versus 2.2% expected. Prior month 2.4%
- PPI ex food and energy MoM 0.0% versus 0.2% expected. Prior month 0.0%
- PPI Ex food and energy/trade 2.5% versus 2.8% last month (revised from 2.9%)
- PPI Ex food and energy/trade 0.1% versus 0.1% last month
There was some US dollar selling on the kneejerk reaction to this but it was quickly erased. Eyes are on the FOMC today but these numbers highlight the falling inflation pressure in the pipeline. Moreover, expect a big drop in December with oil and natural gas prices cratering.
