Fra Zerohedge:
Following explosive inflation in Germany and China, US producer prices printed hotter than expected at 1.6% YoY (final demand) with a notably 0.6% MoM jump (versus 0.3% exp) – the biggest monthly jump since September 2012.
Thank to revisions, YoY data is not so crazy…
It’s not the economy, it’s energy stupid!
Prices for final demand goods moved up 1.0 percent in January, the largest rise since a 1.0-percent advance in May 2015. Three-fourths of the January increase can be traced to the index for final demand energy, which jumped 4.7 percent. Prices for final demand goods less foods and energy climbed 0.4 percent. The index for final demand foods was unchanged.
“Over half of the January increase in prices for final demand goods is attributable to the gasoline index, which advanced 12.9 percent”
Notably, it appears everyone is trading again –“Prices related to securities brokerage and dealing also moved higher.”
