March PPI figures
- Prior was +0.2%
- +3.0% y/y vs +2.9% exp
- Prior y/y +2.8%
Core:
- Ex food and energy +0.3% vs +0.2% m/m exp
- Prior ex food and energy +0.2%
- Ex food and energy +2.7% y/y vs +2.6% exp
- Prior ex food and energy +2.5% y/y
- Ex food energy and trade +0.4% m/m vs +0.2% exp
- Ex food energy and trade +2.9% y/y vs +2.7% exp
There are some inflationary pressures in the pipeline but the market isn't taking notice. Aside from that, there was a huge jump in vegetable prices that likely skewed the data and will be unwound.
That said, tomorrow's CPI core numbers is expected at 0.2% month-over-month and now there is talk of an upside bias.
