The Big Picture - Macro Perspective on the Capital Markets, Economy, Technology, and Digital Media

Macro Notes

Feb PPI fell .6% headline vs expectations of a drop of .2% but the core gain of .1% was right in line with forecasts. The headline figure was led lower by a 2.9% fall in energy prices (led by gasoline) while food prices rose .4%. Energy prices have since reversed, with gasoline in particular at the highest level since Oct '08 so PPI will move up again in March. Inflation in the pipeline was mixed but comes after strong gains in Jan. Goods at the intermediate stage of production rose .1% after a 1.7% gain in Jan. Ex f&f it...