US Producer prices preview - Nomura
|Analysts at Nomura offered their outlook for US producer prices:
Key Quotes:
"PPI inflation was weak in July. Excluding volatile food, energy, and trade, core PPI inflation remained weak, down 0.1% m-o-m. August is likely to see a modest pick-up in PPI inflation considering possible rebounds in volatile components. PPI for trade (which represents wholesalers’ margins) could revert."
"Moreover, PPI for portfolio management and securities brokerage services, which are inputs into the core PCE index, may also revert. Note that our August CPI inflation forecasts may be subject to revision after the release of the PPI report. Consensus expects a 0.3% m-o-m gain in headline PPI, with a 0.2% m-o-m increase in PPI excluding food and energy."
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