The CPI has been tampered (read my article)… But hopefully they didn’t mess up with the PPI (Producer Price Index).
In january, PPI was at 143,2 points, a decrease of 2,52 % compared to january last year…
But compared to december, the PPI increased by 0,7 %.
Due to the base effect, we are going to get in the coming months extremely negative values (in % of difference, year on year)… because last year we had extremely high values.
This is why it will be more interesting to focus on the evolution month-on-month, along with the details (we all know for instance that prices of products related to oil are crashing… it’s not really an information. But wholesale prices for crops are still 8,1 % higher compared to january last year etc.).