Photo: AP Photo
Update:The number is out, and it’s HOT!
PPI hs jumped 0.8%, well above the 0.2% analysts had expected.
Core PPI, which excludes food and energy, was only up 0.2%, which is still above the 0.1% that analysts had expected.
The culprit? Blame food and energy.
In September, the increase in the index for finished goods was broad based, with prices for finished energy goods rising 2.3 per cent, the index for finished goods less foods and energy moving up 0.2 per cent, and prices for finished consumer foods advancing 0.6 per cent. Finished energy: The index for finished energy goods advanced 2.3 per cent in September after decreasing in each of the previous three months. Nearly 70 per cent of this rise can be attributed to the gasoline index, which increased 4.2 per cent. Higher prices for liquefied petroleum gas and diesel fuel also were factors in the rise in the finished energy goods index.
Read the full announcement here.
Original post: The one big econ datapoint of the day.
PPI is expected to rise 0.2%.
Ex-food and energy the gain is seen as 0.1%.
More in a moment when it’s out.