US: Strong inflation data – TDS

Analysts at TD Securities point out that the US PPI inflation exceeded expectations yesterday, printing 0.4% MoM and 1.1% YoY (market: 0.3% and 0.9%, respectively).

Key Quotes

“Core price inflation, on the other hand, surprised to the downside at 0.1% vs expectations at 0.2%. PPI goods inflation (ex-food and energy) remained subdued at 0.0% m/m, suggesting no visible signs of pass through from tariffs and no pricing pressures building up in the pipeline.”