Another month, another series of inflation indicators begins with Producer Prices and it won't help Powell's case that this is all 'transitory'.
Either firms hike prices or they eat the margin compression.
As Bloomberg noted earlier, today's PPI print might provide an insight into next week's CPI print, an event risk that looms large given both recent anecdotal reports and the market's recent insouciance towards inflation concerns, which doesn't seem like it can last forever.
https://www.zerohedge.com/economics/us-producer-prices-soar-record-pace-august-9-months-row
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