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US PPI Decline Creates Perfect Recipe for Soft Landing

The US October Producer Price Index (PPI) rose 1.3% year-on-year, undercutting estimates of 1.9%. Core PPI rose 2.4%, coming in below estimates of 2.7%.

This is the first time in four months that so-called wholesale inflation has fallen. Earlier this week, the markets celebrated lower-than-expected October retail inflation in most sectors.

The US also added fewer jobs than expected last month, which could see the US Federal Reserve create a soft-landing for the economy. Market pundits predict the Fed will not increase rates when it meets in December.

This is a developing story.

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