- Prior was +11.3%
- PPI -0.5% m/m vs +0.2% expected
- Prior m/m reading was +1.1%
- Ex-food and energy +7.6% y/y vs +7.6% expected
- Ex-food and energy +0.2% m/m vs +0.4% expected
This is the cherry-on-top after yesterday's CPI data. It adds to the belief that inflation has peaked. The question now is whether it will fall back to 2% at this time next year or 4%.
The US dollar is at the lows of the day after the data, breaking yesterday's lows on most fronts. USD/JPY is down 105 pips to 131.80.
