US November PPI +3.0% vs +2.6% expected

• Prior was +2.4% (revised to +2.6%)
• PPI m/m +0.4% vs +0.2% expected
• PPI ex food and energy +3.4% y/y vs +3.2% expected (3.1% prior revised to +3.4%)
• PPI ex food and energy +0.2% m/m vs +0.2% expected (+0.3% prior)
• Ex food, energy and trade +3.5% y/y vs +3.5% prior

This is one of the 5 reports that Fed Governor Waller highlighted as pivotal for his December FOMC decision. But after non-farm payrolls and CPI, the market priced in a December cut as nearly a sure thing.

The market reaction to this report was obscured by a surprise jump in initial jobless claims.

This article was written by Adam Button at www.forexlive.com.