Producer price index inflation data from the US:
- Prior was +1.9%
- Ex food and energy +2.4% vs +2.4% y/y expected
- Ex food, energy and trade +2.0% vs +2.3% prior (lowest since Aug 2017)
Month over month data:
- PPI +0.6% vs +0.3% expected (highest in 5 months)
- Ex food and energy +0.2% vs +0.3% expected
- Ex food and energy and trade 0.0% vs +0.1% prior
- Goods prices +1.0% m/m vs +0.4% prior
- Services prices +0.3% vs 0.0% prior
The headline is inflationary but it looks like gasoline (+16%) and tariffs skewed the numbers higher. Strip those out and there is little core inflation.