核心生产者价格通胀放缓至15个月低点，但…

核心生产者价格通胀放缓至15个月低点，但…
Core Producer Price Inflation Slowest In 15 Months, But...

原始链接: https://www.zerohedge.com/personal-finance/core-producer-price-inflation-slowest-15-months

生产者价格9月份环比上涨0.3%（符合预期）来源：彭博社内部来看，能源成本是最大推动因素（下方解释了为何这可能不是问题），建筑业价格涨幅最小… 来源：彭博社核心PPI（不包括食品和能源）环比仅上涨0.1%，使核心PPI同比下降至+2.6%… 来源：彭博社这是自2024年7月以来核心PPI同比的最低水平。然而，未来可能出现问题，因为价格管道（中间需求）再次开始加速… 来源：彭博社但仍有一线希望，因为自该数据发布以来，油价已大幅下跌，预示着PPI最终需求能源将在未来几个月内大幅下降… 来源：彭博社因此，今天早上的3个宏观数据点都“支持”美联储的鸽派人士——就业人数减少、零售销售疲软、通胀降低——降息几率正在上升。正在加载推荐…

Headline Producer Prices rose 0.3% MoM in September (as expected)

Source: Bloomberg

Under the hood, Energy costs were the biggest driver (see below for why that may not be a problem) and Construction saw the smallest rise in prices...

Source: Bloomberg

Core PPI (Ex Food & Energy) rose just 0.1% MoM, bringing Core PPI YoY down to +2.6%...

Source: Bloomberg

That is the lowest YoY print for Core PPI since July 2024.

However, there could be trouble ahead as the pipeline for prices (intermediate demand) is starting to accelerate once again...

Source: Bloomberg

But, there is a silver lining as oil prices have plunged since this data suggesting PPI Final Demand Energy will be dramatically deflating in the coming months...

Source: Bloomberg

So that's 3 of 3 macro data points this morning that 'support' doves at The Fed - lower employment, weaker retail sales, and lower inflation - and rate-cut odds are rising.

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核心生产者价格通胀放缓至15个月低点，但… Core Producer Price Inflation Slowest In 15 Months, But...

核心生产者价格通胀放缓至15个月低点，但…
Core Producer Price Inflation Slowest In 15 Months, But...