Wednesday, May 9, 2018
New economic data has been released today’s pre-market, with the inflation gauge metric Producer Price Index (PPI) hitting the tape. Results were more tepid than expected: +0.1% for the month of April, down from the estimated +0.2-0.3% and the March read of +0.3%. Stripping out volatile food and energy prices, this number reached +0.
Between the PPI and its sister survey, the Consumer Price Index (CPI), due out tomorrow ahead of the opening bell, these metrics are illustrative regarding how far and how fast inflation is seeping into the U.S. economy. After the March numbers, which were a bitter hotter than expected, market analysts suspected we may be at the precipice of rampant inflation, but today’s numbers mute this notion.