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Producer Prices Surge At Fastest Rate In Almost 6 Years

Courtesy of ZeroHedge. View original post here.

Following September's hotter-than-expected Core PPI (and 5Y high in PPI), October was expected to see a modest slowdown but headline PPI printed a massive 2.8% YoY (smashing the 2.4% exp). This is the hottest PPI since Jan 2012,  driven by surges in fuel prices and drugs.

Core PPI also beat expectations, rising 2.4% YoY (vs 2.2% exp) – also the highest since Feb 2012…

Under the hood…

Nearly half of the increase in prices for final demand services can be attributed to margins for fuels and lubricants retailing, which surged 24.9 percent.  

Almost half of the rise in the final demand goods index was the result of higher prices for pharmaceutical preparations, which increased 2.1 percent.

December rate-hike odds were at 97.1% right before the PPI print.


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