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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- Final demand ex food & energy PPI inflation increased +0.38% M/M (cons 0.2) from an upward revised 0.12 (initial 0.01). There were also some tiny upward revisions to Aug-Sep data.
- The net result is that what was thought to have been a 3-month run rate of 2.3% annualized in October is 2.9%, and this only slowed to 2.7% in November.
- There was a similar beat in the final demand ex food, energy & trade services measure, rising 0.27% M/M (cons 0.1) after 0.19. There were smaller upward revisions here whilst the same 3-month trend rate accelerated from 2.9% to 3.2%.
- Coming ahead of US CPI on Tuesday, it questions whether core goods CPI inflation continued to trend lower, having turned negative for the first time since March on the back of a a sharper fall in used vehicle prices or close to declining when stripping out used cars with 0.08% M/M.
- Coincidentally, this trend in monthly rates matches the GSCPI index also edging higher over the past two months.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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