DATA REACT: Nomura on PPI – “Across the array of producer goods, price
changes were a mix of mostly small ups and downs. Such cross-sectional
variation is typical whether the underlying trend is one of rising or
falling inflation. As it happens now, the over-arching picture is one
of rather volatile commodity prices but essentially stable finished
goods prices – a welcome outcome for policymakers, who appear to have
contained the threat of a dangerous deflationary spiral.”