From ZeroHedge:
Just days after the CPI missed across the board sparking a record surge in stocks, moments ago the PPI followed suit when the BLS reported that in October wholesale inflation not only eased across the board but missed every single forecast, with the highlight being the unchanged print in core PPI, a sharp drop from last month's 0.2% increase and far below the 0.3% forecast. Here is the breadown:
- PPI 0.2% M/M, Exp. 0.4%
- PPI 8.0% M/M, Exp. 8.3%
- PPI Core 0.0% M/M, Exp. 0.3%
- PPI Core 6.7% Y/Y, Exp. 7.2%
The YoY increase in headline PPI of 8.0% was the lowest since July 2021, the lowest in over a year.
The energy contribution to PPI continues to shrink, and while services was clearly a major contributor on q YoY basis...
... the services PPI actually posted its first decline since Nov 2020, even as final demand goods rose sequentially....
....MUCH MORE
