US PPI just came in at 6.3% year over year
That crushed the 5.3% forecast and jumped from 5.4% last month
Month over month it rose 1.3% which is the biggest spike since March 2022
Energy prices did the damage climbing almost 11% on the month
Transportation and warehousing costs also jumped 3.4%
Core PPI which strips out food and energy still rose 0.7% way above the 0.3% expected
This follows yesterday's hot CPI print and puts serious pressure on the Fed
Rate hike odds for October just went up
$Q $ATOM #Bitcoin #Crypto #PPI #Inflation #Fed
That crushed the 5.3% forecast and jumped from 5.4% last month
Month over month it rose 1.3% which is the biggest spike since March 2022
Energy prices did the damage climbing almost 11% on the month
Transportation and warehousing costs also jumped 3.4%
Core PPI which strips out food and energy still rose 0.7% way above the 0.3% expected
This follows yesterday's hot CPI print and puts serious pressure on the Fed
Rate hike odds for October just went up
$Q $ATOM #Bitcoin #Crypto #PPI #Inflation #Fed