Margin squeeze; US PPI falls 0.5% in October

15 November 2023

 

Summary: US producer price index (PPI) down 0.5% in October, contrasts with expected rise; annual rate slows to 1.3%; “core” PPI flat; NAB: squeeze on margins is supporting disinflation process; US Treasury yields up noticeably; 2024 rate-cut expectations soften; goods prices down 1.4%, services prices flat. Around the end of 2018, the annual inflation rate of the US producer price index (PPI) began a downtrend which continued through 2019. Months...

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