Sept PPI +1.3% MoM annualizes to ~16.8%; wholesale 6.3% vs CPI 3.7% is a 2.6 pt gap
US wholesale prices (PPI) rose 1.3% in September, the Bureau of Labor Statistics said Thursday. That's the biggest monthly jump since March 2022 and 6.3% from a year ago.
Annualized, 1.3% is ~16.8%. Wholesale is up 6.3% vs 3.7% for consumer prices, a 2.6 point gap. Either margins shrink or CPI has more catching up to do.
https://apnews.com/article/producer-prices-inflation-economy-ff5adf8283a770c2ca9897b10a09dda7
Sources: BLS: PPI final demand +1.3% in September, largest since March 2022 (+1.7%); +6.3% over 12 months, largest since Dec 2022 · @KobeissiLetter: September PPI rises to 6.3% vs 5.3% expected; core 5.0% vs 4.4% · @zerohedge: PPI 1.3% MoM vs 0.6% exp; 6.3% YoY vs 5.4% exp; core 0.7% MoM, 5.0% YoY
Not financial advice. For informational and educational purposes only.
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