US January PPI +9.7% y/y vs +9.1% expected

• Prior was +9.7%
• PPI m/m +1.0% vs +0.5% expected
• Prior m/m +0.3%

Core PPI:

• PPI ex food and energy y/y +8.3% vs +7.9% expected
• PPI ex food and energy m/m +0.8% vs +0.5% expected

This is another dose of hot inflation data, including on month-over-month terms, including when excluding food and energy. As this continues and spreads, it adds more and more pressure on companies to raise prices.