2024-05-14 15:25:00 ET
Summary
- The overall PPI for final demand spiked by 6.4% annualized in April from March, seasonally adjusted, driven by a massive 7.0% spike.
- Core PPI, which excludes energy costs, spiked by 6.1% annualized in April from March, seasonally adjusted.
- Services PPI – this is where the action has been – spiked by 7.0% annualized in April from March.
Services knocked it out of the ballpark. Not helpful for the Fed-favored core PCE price index later in May, which includes some of those services. ...
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PPI Inflation Acts Up In A Nasty Way, Spikes After Big Downward Revisions