October PPI rises less than expected: headline +0.3% MoM vs +0.4% expected; YoY hits 4-year high at 6.5% (Nov 13)
What happened
The U.S. Bureau of Labor Statistics released October producer price data at 8:30 AM ET on Friday, November 13. Headline PPI for final demand rose 0.3% month over month, below the +0.4% consensus and well below September's +1.4% (revised up from +1.3%). Year over year, headline PPI rose 6.5%, slightly below the 6.6% consensus but up from 6.3% in September — the highest annual reading since November 2022. Core PPI (excluding food and energy) rose 0.3% month over month, exactly in line with consensus and down from +0.8% in September (revised from +0.7%), and was up 5.0% year over year, in line with estimates and unchanged from September.
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- Broad market / rate-sensitive equities: the slightly cooler-than-expected headline gave futures a modest lift, with Nasdaq-100 futures up about 0.7% after the release. Growth and AI names, which have been under pressure from yields near 5%, benefit most from any softening in the rate path. Treasury-sensitive sectors (housing, utilities, small caps) are also exposed. Nvidia (NVDA) was up about 1.8% premarket in the same session, though that move reflects its own post-resignation rebound rather than the PPI print.