US ECON: Sep PPI Falls 1.3% Overall but Core Jumps 0.6%

Headline wholesale inflation fell by 1.3% between August and September, far more than the 0.7% expected by the consensus. There was a -1.3% estimate in IFR's weekly economist survey and IFR's own point estimate was -1.1%. Perhaps the bigger surprise, however, is the 0.6% jump in the core PPI rate. That followed a curious 0.4% decline in August but was nevertheless, the biggest 1-month jump in 19 months. There hasn't been an increase of more than 0.6% since December 1998 (+1.0%).