November producer price index

  • Highest since Feb 2012
  • Prior was 2.8% y/y
  • PPI +0.4% vs +0.3% m/m expected
  • Prior PPI +0.4% m/m
  • Ex food and energy +0.3% vs +0.2% exp
  • Ex food, energy and trade +0.4% vs +0.2% exp

Those are some hot numbers. It's not CPI but it's often a hint. A few FOMC members are going to see this as confirmation that inflation is coming.