US Producer Price Growth Slows, Echoing CPI Data

The transcript discusses the Producer Price Index (PPI) and its implications for inflation, comparing it with the Consumer Price Index (CPI). It highlights positive news from the Empire manufacturing numbers and the market's reaction, including changes in equities and yields. The conversation shifts to the unusual inflation cycle, potential future economic scenarios, and the impact of service inflation on the economy. Overall, the transcript provides insights into current economic conditions and market responses.

What was the change in the PPI on a year-over-year basis after excluding food and energy?

• 8.0%

• 8.5%

• 7.2%

• 6.7%

How did the S&P 500 futures react to the recent PPI data?

• They increased by 1.7%

• They remained unchanged

• They decreased by 0.5%

• They decreased by 1.7%

What was the change in the 10-year yield following the PPI announcement?

• Up by 11 basis points

• Down by 11 basis points

• Down by 9 basis points

• Up by 9 basis points

What is the expected behavior of inflation according to the discussion on the inflation cycle?

• It will fall like a feather

• It will remain stable

• It will rise slowly

• It could fall quickly

What was the first decline in final demand for services since November 2020?

• Down by 5/10

• Up by 3/10

• Down by 1/10

• Up by 4/10