US: Expect a steady increase in core PPI - Nomura
Analysts at Nomura, note that the US producer prices picked up in September, up 0.4% m-o-m from August, partially boosted by a strong weather-driven increase in energy prices.
“Finished core consumer goods prices (excluding food and energy), a component relevant for core CPI, rose steadily by 0.2%. As the transitory impact from energy components subsides, aggregate producer price inflation may slow in October from the September pace. Excluding volatile food, energy, and trade, we expect a steady increase in core PPI.”