Producer price index for September 2020:

  • Ex food and energy +0.4% vs +0.2% exp
  • PPI +0.4% y/y vs +0.2% exp
  • Ex food and energy y/y +1.2% vs +1.0% exp
  • EX food, energy and trade y/y +0.7% vs +0.5% exp

Energy is the big drag while services prices will rise as fast as Microsoft wants them to.