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Producer Price Inflation Year Over Year Highest Ever On Record

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Producer Price Inflation data released this morning showed the highest increase year-over-year on record.

It was expected but the number is still shocking.

Corporate media outlets are now forced to admit inflation is not ‘transitory’.

Jobless claims unexpectedly spiked at the beginning of the year. Omicron?

Financial markets this morning are partying likes it’s 1929.

Continuing Jobless Claims (Dec 31) printed at 1.559M vs 1.733M consensus estimate.

Initial Jobless Claims (Jan 7) printed at 230d vs 200k estimate.

Initial Jobless Claims 4-week average (Jan 7) printed at 210.75k.

Producer Price Index (MoM) (Dec) printed at 0.2% vs 0.4% estimate.

Producer Price Index (YoY) (Dec) printed at 9.7% vs 9.8% estimate.

Producer Price Index ex Food & Energy (MoM) (Dec) printed at 0.5%.

Producer Price Index ex Food & Energy (YoY) (Dec) printed at 8.3% vs 8.0% estimate.

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