BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611 firstname.lastname@example.org
Announced this morning, the Producer Price Index increased 0.6% in October and 2.9% on an annual basis, above forecasts. The core rate, excluding food and energy, increased 0.5% in October and 2.6% on an annual basis, also above forecasts. While prices at the producer level can fluctuate and companies may or may not pass along these costs to consumers, the results underscore the possibility of higher inflation and gives additional credence to the Federal Reserve’s policy to move rates back to a normal level. Following the report, equity futures are lower, interest rates are slightly higher, and the U.S. dollar strengthened heading into the market open.
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