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August Producer Price Index

August Producer Price Index MOM 0.2% vs. estimates of 0.3% with Core PPI MOM 0.1% vs. estimates of 0.2%.  The PPI YOY 2.4% vs. estimates of 2.5% with Core PPI YOY 2.0% vs. estimates of 2.1%.

This is a smidge lighter than expectations, but Core YOY did move up from July’s reading of 1.8% to August’s reading of 2.0%, so inflation is moving higher even though it was a tick lower than estimates. A mixed bag here, so far MBS having no reaction.

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