‘Cool’ Is An Extremely Relative Term
US producer prices rose half as much as expected in December, data out Thursday showed.
With traders having largely shrugged off an objectively harrowing CPI report on the (tenuous) contention that it was "as-expected," a relatively cool read on PPI was certainly amenable to constructive spin.
PPI for final demand rose just 0.2% MoM in December (figure below). Consensus expected a 0.4% increase. The range, from nearly five-dozen economists, was 0.1% to 0.6%. The 9.7% YoY print, as alarming as
Looking back on the pandemic period in five, ten years, economic historians may indeed characterize this bout of inflation as transitory.
if inflation abates seriously in H2 of this year, I’m going to take a serious victory lap.
H-Man, labor is going to squeeze this market for all it can get.