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PPI Seen Accelerating

US DATA

PPI in 10 minutes (0830ET) is the day's data highlight - a brief preview courtesy of our data team:

  • The monthly rate of US headline final demand PPI is expected to rise 0.6% in October, accelerating modestly from the 0.5% rise seen in September. Similarly, the core monthly rate is forecast to increase to 0.5% in October from 0.2% in September. The core PPI excluding Trade is expected to follow suit, coming in at 0.3% in October, up from 0.1% in September.
  • Ex-Food/Energy BBG survey range is +0.2 to +0.8% ; headline final demand +0.4 to +1.0%.
  • Analysts expect both the annual rate of PPI for final demand and core PPI are expected to remain stable at 8.6% and 6.8% respectively, although there is a chance of upside surprises given the consistently high readings in price components of recent business surveys.
  • Barring a significant outlier result vs consensus, PPI is seen as paling compared to Wednesday's CPI release in terms of potential market reaction, but still worth watching for the development of underlying price dynamics.
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