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December's Producer Price Index (PPI) — which tracks companies' price changes — rose by 3.3% year-over-year, below expectations for 3.5% annually; PPI also rose below monthly estimates of 0.4%, instead rising by 0.2% month-over-month from November. US stock futures (ES=F, NQ=F, YM=F) are reacting positively to this data.
Yahoo Finance senior reporter Josh Schafer lays out how Wall Street experts are shifting their inflation outlooks on this inflation print and the Federal Reserve's interest rate cut timeline.
The Consumer Price Index (CPI) for the month of December is due out tomorrow, Wednesday, January 15, while the Personal Consumption Expenditures (PCE) price index — the Federal Reserve's preferred inflation gauge — will be released on January 31.
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This post was written by Luke Carberry Mogan.