Highlights of the January US producer price index report:
- Prior was -0.2% m/m
- Ex food and energy +0.4% vs +0.1% exp
- Prior ex food and energy +0.1% (revised to +0.2%)
- Ex food, energy and trade +0.2% m/m vs +0.1% exp
Year-over-year data:
- Prices -0.2% vs -0.6% exp
- Ex food and energy +0.4% vs +0.6% exp
- Ex food, energy and trade +0.8% vs +0.3% prior
There were some surprising pipeline inflation pressures in January. The bulk of the Fed is expecting to see a turn higher in prices and numbers like this help them to believe it's coming.
