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Core PPI Comes Hotter Than Expected, Driven By Rising “Brokerage, Investment Advice” Prices

Friday, January 13, 2017 14:26
% of readers think this story is Fact. Add your two cents. / by Tyler Durden / Jan 13, 2017 8:57 AM

While headline PPI came in at 0.3% on a sequential basis, as expected, and rose 1.6% on the year, also in line with expectations, it was the core PPI that came in modestly hotter than expected, printing at 0.2%, above the expected 0.1%, and rose 1.6% Y/Y, above the 1.5% expected, and far above the -1.1% drop reported one year ago.The headline jump was driven by a spike in energy prices, as final demand energy rose 2.6% in December. Accounting for almost half of the December jump in final demand goods prices, the index for gasoline climbed 7.8% , while heating oil was up 9.6%.

Away from the non-core energy and gasoline prices, the headline PPI rise was driven, surprisingly, mostly by “prices for securities brokerage, dealing, investment advice, and related services” which advanced 4.4%. In other words, brokers are capitalizing on the rush by retail investors to jump in the market and are hiking prices.

Nonetheless, on an annual basis, the 1.6% increase in PPI was the highest since August 2014.


The post Core PPI Comes Hotter Than Expected, Driven By Rising “Brokerage, Investment Advice” Prices appeared first on Silver For The People.


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