US PPI final demand 0.2% vs 0.3% estimate MoM
Details from the August 2017 US PPI data report 13 September 20, 2017
The US PPI for the month of August rose 0.2% vs 0.3% estimate. Other details show:
- Ex food and energy up 0.1% MoM vs 0.2% est
- Exp food and energy and trade +0.2%, vs 0.1% est
- The final demand YoY came in at 2.4% vs 2.5% est
- The ex food and energy YoY came in at 2.0% vs 2.1% est
- The ex food, energy and trade showed a 1.9% gain, unchanged from last months 1.9% reading.
- Energy prices had the biggest jump in energy costs since January. They rose 3.3% vs the prior month.
- Food costs fell -1.3%
A little lighter than expectations although energy did show the biggest jump since January. Gasoline prices rose 9.5% and jet fuel prices rose the most since 2009. A Bureau of Labor economist said that hurricane Harvey should not have impacted the numbers. HMMMM.
Prior impacts of hurricanes tend to increase inflationary measures.
The market is taking it in stride with little changes in the major currency pairs.
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