U.S. Producer Price Index Rose 0.8% In January
(For January 2011)
U.S. producer price index rose 0.8% in January vs. 0.8% consensus. December reading was at 0.9% (revised from 1.1%). On year level PPI is up 3.4%.
Food & energy taken out U.S. producer price index rose 0.5% in January; consensus was at 0.2%; prior reading was also at 0.3%. On year level core PPI is up 1.5%.
Favorable report, moderation in inflation.