- Prior was +2.7%
- PPI M/M +0.2% vs 0.2% expected
- Prior +0.3%
- Core PPI Y/Y +3.0% vs +2.7% expected
- Prior +2.6%
- Core PPI M/M +0.0% vs +0.2% expected
- Prior +0.1%
The BLS notes that the November increase in prices for final demand can be traced to a 0.9-percent advance in the index
for final demand goods. Prices for final demand services were unchanged.
As a reminder, this is November data and besides being old news at this point, it could have the same shutdown related issues of the November CPI. I don’t expect the market to focus too much on the data because we already got the more important and more timely December CPI yesterday.
The market is pricing 54 bps of easing by year and that’s unlikely to change much with today’s data. The recent Fedspeak has shown zero interest for a rate cut in January even though the market still assigns it a 9% probability
US November PPI final demand Y/Y +3.0% vs +2.7% expected
