PPI numbers just hit and they're not pretty
September up 1.3% — biggest monthly jump since March 2022. Year-over-year sitting at 6.3%. Gas alone up over 20%.
Core (ex food/energy/trade) still +0.5%. CPI yesterday was +0.6%.
Fed meets Oct 27-28. They're gonna have a lot to talk about. Market's been pricing in one thing, but inflation's not reading the script.
September up 1.3% — biggest monthly jump since March 2022. Year-over-year sitting at 6.3%. Gas alone up over 20%.
Core (ex food/energy/trade) still +0.5%. CPI yesterday was +0.6%.
Fed meets Oct 27-28. They're gonna have a lot to talk about. Market's been pricing in one thing, but inflation's not reading the script.