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Headline: January core PPI climbed 0.4 per cent, rising above expectations. This was the largest increase since July 2011.Interestingly, 40 per cent of this rise was attributed to prices for pharmaceutical preparations.
Meanwhile headline PPI was up 0.1 per cent.
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Consensus: Expectations were for a 0.4 per cent month-over-month increase in PPI. And a 0.2 per cent gain in core PPI (ex-food and energy).
Analysis: PPI measures the average change in prices from the seller’s perspective. It acts as an indicator for commodity prices in the manufacturing sector which eventually trickle down to the consumer.
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