PPI Report Suggests A Plateau Of Inflation & Global Oil Demand
b'The Producer Price Index or PPI was released today and revealed a higher than expected Core PPI month-over-month and year-over-year. "PPI makes sense with other economic data. Energy prices in the form of crude oil and gasoline came down. There is also some easing in the agricultural sector. This PPI number will not impact the Federal Reserve. There is a high probability already that there will be a 75 BPS interest rate hike in November," says Bob Iaccino. IEA trimmed the global oil demand forecast.'