Despite Rebound, Producer Price Inflation Weakest In 3 Years
Following yesterday's mixed picture for consumer prices, producer prices are expected to rebound from September's shocking plunge and it did, beating expectations of a 0.3% MoM jump (but year-over-year growth in PPI slipped to +1.1% - the lowest since September 2016).
(Click on image to enlarge)
Source: Bloomberg
Core PPI rose 0.3% MoM but also slipped on a YoY basis to its coldest since March 2017...
(Click on image to enlarge)
Source: Bloomberg
Once again, Trump's tariffs have done nothing to drive prices higher as every establishment economist decried.
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