September PPI data
- Prior was +1.8% y/y
- Ex food and energy +2.0% y/y vs +2.3% exp
- Prior ex food and energy +2.3% y/y
Month-over-month
- PPI -0.3% vs +0.1% exp
- Prior +0.1%
- Ex food and energy -0.3% m/m vs +0.3% expected
- Prior ex food and energy +0.3%
This was a big miss and raises some questions about the CPI report later this week. The headlines is the lowest since Nov 2016.