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Update:The July Producer Price Index report is out.
Headline prices grew 0.2%.
Core prices grew 0.4%.
Both of these were twice as fast as expectations.
The other half of the puzzle comes tomorrow, with the CPI, though clearly one bottom line is that inflation isn’t falling fast enough to make Bernanke’s job easy.
The market is reacting pretty snoozily to the news. Futures are exactly where they were, basically
Original post: The first of two inflation reports this week…
Analysts expect July producer prices to grow by just 0.1%, which is up quite a bit from the -0.4% last month.
“Core” PPI — which excludes food and energy — is expected to grow by 0.2%.
The number comes out at 8:30 AM ET.