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Sept final demand PPI +0.4%, as expected, &.>

US DATA
US DATA: Sept final demand PPI +0.4%, as expected, but ex. food & 
energy +0.4% vs +0.2% expected and PPI ex. food, energy, trade services 
+0.2%. The data shows a push from a 3.4% jump in energy (gasoline 
+10.9%), but even PPI ex-energy was still +0.3% with food prices flat, 
so there was underlying inflation, particularly from +0.8% for trade 
services. BLS said that Hurricanes Harvey and Irma had no impact on data 
collection, survey response rates, or estimation procedures. The 
12-month changes suggest some acceleration, as headline PPI +2.6% y/y vs 
+2.4% in Aug, while PPI ex. food and energy +2.2% y/y after +2.0% in Aug 
and ex. food, energy, and trade services +2.1% vs +1.9% in Aug. BLS 
analyst Scott Sager told MNI the boost in trade services was from 
margins on machinery, equipment an and apparel. Sager said outside of 
the energy boost, there were not visible impacts from the hurricanes. He 
added that it is possible there will be some future impact seen in 
citrus prices from Florida. See MNI main wire. 

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