- Note – while a very small sample size, the forecast for the q/q was +0.9%
- and Q4 PPI +1.9% y/y (prior was 1.9%) … and Note – again a very small sample size, the forecast for the y/y was +2.7%
Preview was here … (bonus: includes me pontificating from soapbox)
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Private Sector Credit for December:
- +0.5% m/m (expected 0.4%, prior was 0.3%)
- +3.9% y/y (expected 3.7%, prior was 3.8%)
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These were very tame PPI figures indeed, the q/q in well below previous, the y/y unchanged on previous. First impresions are that they are not indicative of consumer inflation in the pipeline and if the ‘government inflation’ can be brought under control the CPI may well not move to to the topside with quite the same gusto as the market has been expecting? I’ll be back with more. Hmmmmm…
