Analyzing the Latest Updates on US January PPI Data
Friday, 16 February 2024, 13:30
US January PPI Data Overview
- Key Point: Prior was +0.9% y/y (revised to +0.8%)
- Current Trend: PPI m/m +0.3% vs +0.1% expected (prior was -0.2%)
Core PPI Numbers
- Core Focus: PPI ex food and energy y/y +2.0% versus 1.6% expected. Prior month 1.8%
- Positive Shift: PPI ex food and energy m/m +0.5% versus +0.1% expected. Prior month -0.1%
- Enhanced Growth: PPI ex food and energy/trade +2.6% y/y versus 2.5% prior
- Rising Momentum: PPI ex food and energy/trade +0.6% m/m versus 0.2% last month
Analyst Perspective
Expert View: I flagged the potential for an upside surprise in this report because there seems to be something going on with seasonal adjustments at the BLS in January pricing data. So my inclination is to fade this, but the question is when to pull the trigger on that move?
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.