In a country in which nobody eats or drives any more, the Fed construct known as September core PPI came in 0.0%, on expectations of a 0.2% increase. Of course, for those lucky few who still eat, or drive, or in rare cases eat and drive, saw Producer Prices rise by 1.1% on expectations of a 0.8% increase, which despite dropping from August’s 1.7%, this was still the second highest monthly increase in the past year. Also, for those few who actually care about such trivia as food and energy prices, this was the 4th month in a row of higher than expected headline PPI. Luckily, in America, eating has now been hedonically adjusted to the functional equivalent of playing Apple’s bestselling $0.99 iFood app.
Read More at zerohedge.com . By Tyler Durden.