All the business news headlines involve the spike in producer prices.
To summarize:
The September producer price index (PPI) climbed 0.5 percent month-over-month and rose to 2.2 percent year-over-year.
Core PPI, which omits the volatile energy and food components, jumped 0.3 percent and increased to 2.7 percent year-over-year.
But the most notable part of the Bureau of Labor Statistics’ (BLS) wholesale price report? The revision.
Last month’s annual PPI print was 2.5 percent, higher than the previous 2.2 percent.
In addition, all PPI data was revised higher dating back to May.
How many more revisions should we expect?
Like this article? Get ECN delivered to your inbox daily. Subscribe here.
Leave a Comment