US Producer Prices Accelerating At Fastest Rate In 12 Months, Wall Street Reacts...

Ahead of tomorrow's CPI, traders are eyeing this morning's Producer Prices for any hints that the disinflation trend will return...or not.
The answer is "not!"

April Producer Prices rose 0.5% MoM (vs +0.3% exp), with March's +0.2% MoM revised down to -0.1% MoM. The downward revision did not stop the YoY read rising to 2.2% (from +2.1% in March)...

This is the highest YoY read since April 2023 and is the fourth hotter than expected headline PPI print...