Inflation? What inflation?
PPI Ex Food and Energy MoM
PPI Ex Food and Energy YoY
Wholesale prices in the U.S. as measured by the Producer Price Index declined for a third month in November, reflecting lower costs
for energy and cars. The 0.1 percent drop in the Producer-Price Index followed a 0.2 percent decrease the prior month. The median estimate in a Bloomberg survey of 77 economists called for no change. The so-called core measure, which excludes food and energy, rose 0.1 percent. This shows that the prices of goods and materials used in the earlier stages of production fell for a second month as slow improvement in global markets limits demand.
No signs of accelerating inflation gives the Federal Reserve policy makers meeting next week more room to maintain their $85 billion in monthly asset purchases in order to help the economy expand.
“The early bird gets the worm, but the second mouse gets the cheese.” ~ Jon Hammond
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury