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Little Let-Up In Goods PPI

US DATA

US Jan PPI table below - to put the significant upside surprise into context, expectations were for a much faster deceleration in producer prices pressures across the board. And the higher revisions don't help.

  • Total final demand PPI was the highest since May 2021; there's been very little let-up in goods prices over the past few months, even excluding the Jan rebound in food and energy prices vs Dec.
  • But services price pressures are slightly more forgiving, esp transportation and warehousing which showed flat gains.

Source: BLS

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